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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
|
|
|
Showing 5176 to 5180 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
|
| |
| |
|
