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.
|
|
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
|
|
|
Showing 5011 to 5015 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
|
| |
| |
|
