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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, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- MS Steel International - UAE
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
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