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Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
 Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating costs, limited investments and control over chartering orders. He was among the speakers of a conference organized in Athens this week and titled: “Shipping Today & Tomorrow -International Developments, Trends and Investments in the Greek and International Shipping-Tourism Market”. According to Mr. Polemis the market will begin its comeback during 2013 or even 2014, provided that no more newbuilding orders are placed.
On the issue of shipping finance, Mr. George Gourdomichalis, head of G. Bros Maritime mentioned that things are getting more and more difficult for the backbone of the Hellenic maritime industry, which is comprised of 600-700 small and medium-sized family shipping companies, owning and managing fleets of about 6 vessels each. He also stated that ship values have dropped, which means that the cost of financing is also being increased, given that since the start of 2009, banks have been increasing speads even in older loan deals, while they are also providing finance only to their older clients.
Speaking on the same matter, Mr. Michalis Bodouroglou, President and CEO of New York-listed Paragon Shipping said that ship values are falling, the risk is high compared to the value and there is limited liquidity. On the other hand, as he stressed, the current crisis creates opportunities and businesses with strong balances will emerge reinforced from this situation and will grow even more. Mr. Bodouroglou also provided with a positive note regarding the current difficulties in securing financing, since the reduction in numbers of newbuilding orders, maximizes the prospects of developing the current ones.
An issue which has risen recently revolves around the Hellenic shipowners’ stance towards the country’s troubled economy. Mr. Polemis said that Hellenic shipowners could invest in other sectors of the country’s economy (some are already doing exactly that), like tourism, ports, green energy, natural gas and oil. Still, besides the patriotism they have exhibited they aren’t any different from most investors, in the fact that the Hellenic economy is lacking in institutional and legislative frameworks necessary to attract invesments and a bad public sector. Speaking on the matter, Mr. Bodouroglou said that the Hellenic shipowners are staying in Hellas by choice and ask nothing in return from the State. Hellas is a maritime centre. All banks, all shipbrokers and all shipbuilders are located here. According to Mr. Gourdomichalis, the presence of the country’s maritime industry provides the State with power and prestige when speaking with its piers and investors. Hellenic Shipping represents a market share greated than 50% of the EU and nearly 20% worldwide. It’s the No1 pillar of the country’s economy, with current account balance of over 140 billion euros during the past decade he said.
Mr. Alexandros Tourkolias, deputy CEO of NBG (National Bank of Greece) spoke about the international financial crisis and its implications on shipping, pointing out to the rise of the cost of money, as one of the key problems faced by shipowners and shipping companies. Mr. Tourkolias also talked about the significant improvement of the average age of the Hellenic fleet, which has fallen from 22 years old back in the early 90s to only 15 years old today. Finally, he said that the current debt crisis is causing banks to adopt more cautious strategies in terms of providing loans, while they are also limiting their available capital, ahead of probable recapitalizations.
Mr. Antonis Lamnidis, senior executive with HSBC said that shipping financing has upward and downward cycles, mentioning that the Hellenic shipping industry is in good state, having placed orders for 600 newbuilding vessels, of a total value of $7.5 billion.
Mr. George Xiradakis, CEO of XRTC Business Consultants talked about the growing role and importance that Chinese banks could have in the country’s shipping, helping shipowners in a decisive matter. Having extensive knowledge of the Chinese banking market, Mr. Xiradakis said that the country’s banks are internationalizing and investing heavily in whatever they can get their hands on both in Europe and in Africa. In terms of shipping finance they have increased their exposure providing loans for deals worth $89.3 billion, out of the total of $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
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