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.
|
|
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
|
|
|
Showing 5091 to 5095 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
|
| |
| |
|
