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, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
|
|
|
Showing 5436 to 5440 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- White Energy Company Limited
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
|
| |
| |
|
