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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
|
|
|
Showing 5451 to 5455 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
|
| |
| |
|
