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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Parliament of New Zealand
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Deloitte Consulting - India
- The University of Queensland
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
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