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, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
|
|
|
Showing 6461 to 6465 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Minerals Council of Australia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
|
| |
| |
|
