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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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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
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