We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
 To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of maritime freight markets. According to him, the winner is the one who stays in the game even in difficult times such as these.
In February, Theodore E Veniamis was elected President of the Union of Greek Ship-owners (UGS). Mr Veniamis is also the founder, chairman and managing director of the Golden Union group, a Piraeus-based shipping company established 32 years ago. Under his leadership, the Golden Union group has flourished and today enjoys an excellent reputation and high level of customer commitment due to its services to the dry cargo markets and its excellent safety record. The company currently operates dry bulk vessels totalling more than 2 million dwt.
The cyclical nature of shipping
International shipping has, like most other industry sectors, been navigating in stormy waters for the past couple of months. Following six years of unprecedented growth reflected by a record number of new orders, the shipping industry has now been forced to face some cold facts. The number of cancellations is increasing, postponements are becoming increasingly widespread and debts are piling up. Furthermore, although Greek shipowners still prefer to scrap older vessels and buy second-hand, on a global scale lay-ups are set to increase. However, the future might not be totally gloomy.
Mr Veniamis, who is currently serving as chairman of DNV’s Greek Committee, believes that international shipping will survive the current crisis – just like it has survived previous crises. "Maritime freight markets are cyclical in nature. Shipping crises are consequently a recurring phenomenon. The unprecedented growth we have witnessed in the freight market over the past few years was not sustainable. Now, once more, shipping is being called upon to face this very testing period in a responsible way," says Mr Veniamis. And he knows what he is talking about.
The philosophy of Greek shipping
Maritime traditions in Greece date back 10,000 years and are as strong today as ever. Greece currently manages the largest merchant fleet in the world and controls close to 15% of the world fleet measured by deadweight. Furthermore, Greek shipowners have had the largest share of newbuildings during the recent financial turmoil.
Nonetheless, the current financial crisis is a global crisis that also affects the Greek shipping industry. Although, according to Mr Veniamis, perhaps not in the same magnitude. "Over the years, the Greek shipping industry has proved it has an amazing ability and willingness to adapt to the needs and requirements of a constantly changing global environment. Thus, during the current financial turmoil, Greek shipping is better able to deal with the industry’s highly unpredictable cyclical nature," says Mr Veniamis. But, he adds, there is more to Greek shipping than just that.
"There is a special philosophy in Greek shipping. The majority of the industry is based on family loyalties and values, not corporate ownership. Shipping companies built on a strong family foundation lead to a different kind of trust and commitment. I believe this foundation is part of the reason why Greek shipping will get through the crisis without breaking its back," says Mr Veniamis.
As a comparison, Norwegian shipping traditions have also been built on a similar family-oriented foundation. Today, the maritime relations between Greece and Norway are strong, and Greek shipowners work closely with the Norwegian maritime cluster; insurance, banking and classification. For DNV, maintaining a good and fruitful relationship with Greek shipping is a priority.
Realistic view
When it comes to predicting the future of international shipping, Mr Veniamis takes a cautiously realistic view. "It’s impossible to predict the future. We know only the past and the present. If we want an indication as to what the future will bring, we need to make regular calculations, perhaps as often as every month," he says.
Although predicting the future might be difficult, one thing is certain; concern for the environment and sustainability will be an important part of it.
According to Mr Veniamis, the shipping community has worked on environmental issues for years. "Operational pollution has been reduced, and significant improvements in engine efficiency and hull design have led to a reduction in emissions and increased fuel efficiency. The UGS supports global IMO-induced measures to reduce emissions from international shipping," he says, emphasising that "these measures should support sustainable development without restricting economic and trade growth."
My word is my bond
For Mr Veniamis, trust and confidence are two of the most important attributes in shipping. "In the end, what matters in the current situation is that trust and confidence are re-established. Banks with shipping portfolios should support their customers and assist them in overcoming the current difficulties. The motto ‘my word is my bond’ should prevail again. Speculation should be avoided, and the financing of healthy shipping should not be curtailed," says Mr Veniamis.
In the end, he says "the winner is anyone who stays in the game even in difficult times such as these."
Source: Hellenic Shipping News, DNV
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
|
|
|
Showing 6331 to 6335 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Minerals Council of Australia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
|
| |
| |
|
