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.
|
|
Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
|
|
|
Showing 6411 to 6415 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
|
| |
| |
|
