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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 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 ...
|
|
|
Showing 5116 to 5120 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
|
| |
| |
|
