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, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
|
|
|
Showing 6351 to 6355 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
|
| |
| |
|
