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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
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