We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
|
|
|
Showing 806 to 810 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Posco Energy - South Korea
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- The Treasury - Australian Government
- Interocean Group of Companies - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
|
| |
| |
|
