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, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
|
|
|
Showing 5276 to 5280 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- The University of Queensland
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
|
| |
| |
|
