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.
|
|
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
|
|
|
Showing 5196 to 5200 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- The University of Queensland
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
|
| |
| |
|
