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.
|
|
Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
|
|
|
Showing 4676 to 4680 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
|
| |
| |
|
