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.
|
|
Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
|
|
|
Showing 4701 to 4705 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- The University of Queensland
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
|
| |
| |
|
