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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, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Coal and Oil Company - UAE
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- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- White Energy Company Limited
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
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- Global Business Power Corporation, Philippines
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- Australian Commodity Traders Exchange
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- Borneo Indobara - Indonesia
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- Singapore Mercantile Exchange
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- SMG Consultants - Indonesia
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- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
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- IEA Clean Coal Centre - UK
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- Directorate Of Revenue Intelligence - India
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- Larsen & Toubro Limited - India
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- New Zealand Coal & Carbon
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- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
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- Karbindo Abesyapradhi - Indoneisa
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- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
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- Renaissance Capital - South Africa
- Wilmar Investment Holdings
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- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Economic Council, Georgia
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- SN Aboitiz Power Inc, Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
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- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
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- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
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