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, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
|
|
|
Showing 5241 to 5245 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Australian Coal Association
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
|
| |
| |
|
