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Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery is not visible in the horizon. This latest negative trend is actually proving those analysts, that had predicted a slowdown in the market before the year’s end, right. They were arguing that the current balance between demand and supply is in favor of demand, with the flurry of new building vessels being such, that it couldn’t be absorbed by the market. At the same time, shipyards around the world are speeding their deliveries, a sort of «tradiiton» during these past few years.
As a result, yesterday the Baltic Dry Index, the industry’s benchmark was down by another 0.87% to 1,814 points. As was the trend mid-week, all major dry bulk ship segments were on the red, with the Capesizes setting the trend. The larger Capesize ships lost 1.33% yesterday, with the relative Baltic Capesize Index (BCI) now standing at 3.042 points. Similarly, Panamaxes were down by 1.03% to 1,822 points, while Supramaxes lost an additional 0.14%. "With demand still weak as being indicated by negative developments in steel price futures and expected to moderate further in seasonally low 1Q, we believe the capesize rally in 2H11 primarily on back of robust steel production and Chinese inventory build-up could reverse as trend reversal occurs," RS Platou Markets said, quoted by Reuters.
In a recent analysis, Tasos Papadopoulos from shipbroker Intermodal said that “shipping’s obvious dependence upon China and her extraordinary growth highlights the importance of understanding China's resource-based foreign policy and its priorities. China has only begun to build out its renewable energy program, its urbanization efforts are perhaps only 30 or 40 per cent complete-bringing its masses of rural workers into the modern urban world- and even greater stockpiles will have to be accumulated for the coming years. Chinese are relentlessly long-term thinkers and have proven themselves remarkably good at achieving goals set in past five and ten-year plans.
Nowadays, almost everyone accepts that fossil fuels (oil, coal, natural gas) are in short supply and not long-term solution to power the world's economy. It was a mistake to take fossil fuels for granted and today it is a mistake to take virtually any material for granted. Therefore, CCP (Chinese Communist Party) has a stated goal to generate 15 to 20 per cent of its primary energy consumption from alternative energies (wind, solar, hydro and nuclear) by 2020. China, having early realized this fact, is rapidly accumulating a lion's share of metals that are critical for a switch to renewable energies such as silver, copper, zinc and the so-called rare earth elements (neodymium, indium, europium, cerium, lanthanum etc). It is clear that China is moving forward as quickly as it can to obtain these essential materials before the developed world mobilizes with the same goal. In this sense, Chinese mine copper in the world's most dangerous places (China Metallurgical Group Corp, a state-owned conglomerate, paid $3.4 billion for the rights of Aynak copper field, one of the biggest foreign investment in the history of Afghanistan), have made infrastructure-deals in order to secure long-term supplies of resources with at least 35 African countries, and signed notable aggressive agreements with Brazil, Bolivia, Venezuela, Ecuador and Argentina in order to gain access to Latin America's mineral wealth” said Mr. Papadopoulos.
He went on to state that “China's over spending on infrastructure is a significant down payment on their long-term plan described above which incorporates a major goal: A better life for its populace. A large percentage of the population still living in the countryside and farming in a traditional communal-style manner, but it’s estimated that "China's rural population will shrink from the current 900 million to 400 million in 30 years". There are already newly built cities that have roads, buildings, mass transit systems and indeed everything but residents! The benefits on the world trade, when these cities will be inhabited, are obvious. Just to mention that China currently only has around fifty cars per thousand people. In the Western world, not only does there seem to be no such strategic plan to secure resources but also China is in far better financial shape and flexibility, with its huge trade surplus, in comparison with the indebted anaemic economies of USA, Japan and Europe. China has identified the truth that if you solve "energy" you solve most other problems. If oil goes up, so does the cost of delivering iron ore, so too does the cost of mining coal and so do the price of finding more oil” concluded Intermodal’s Tasos Papadopoulos.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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 ...
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- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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