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.
|
|
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
|
|
|
Showing 4641 to 4645 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
|
| |
| |
|
