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, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
|
|
|
Showing 5301 to 5305 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- The University of Queensland
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
|
| |
| |
|
