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.
|
|
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
|
|
|
Showing 4911 to 4915 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
|
| |
| |
|
