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, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
|
|
|
Showing 4891 to 4895 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Planning Commission, India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
|
| |
| |
|
