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.
|
|
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
|
|
|
Showing 5181 to 5185 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
|
| |
| |
|
