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.
|
|
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
|
|
|
Showing 5041 to 5045 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
|
| |
| |
|
