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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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
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- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Economic Council, Georgia
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