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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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- Deloitte Consulting - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- The University of Queensland
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Economic Council, Georgia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
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