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.
|
|
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
|
|
|
Showing 5251 to 5255 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
|
| |
| |
|
