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.
|
|
Tuesday, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
|
|
|
Showing 5101 to 5105 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
|
| |
| |
|
