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 $470 billion. He concluded by saying that Chinese banks are entering the global market with ambitions. The secret to do business with them is to be patient and have large investment projects in place said Mr. Xiradakis.
Speaking on the matter from a banking point of view, Mr. Ted Petropoulos, managing director of Petrofin Research said that uncertainty is the main ingredient in the course of the global financial activity. “The international banking system is facing serious liquidity problems, which in turn impacts its decision for investments” said Mr. Petropoulos. He concluded his speech by saying that the fact that the crisis have been made clear to all players of the global economy, gives reason for optimism, regarding its successful resolvement.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
|
|
|
Showing 5031 to 5035 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- The University of Queensland
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
|
| |
| |
|
