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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, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
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- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Latin American Coal - Colombia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Australian Coal Association
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
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