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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 $3.4 billion for the rights of Aynak copper field, one of the biggest foreign investment in the history of Afghanistan), have made infrastructure-deals in order to secure long-term supplies of resources with at least 35 African countries, and signed notable aggressive agreements with Brazil, Bolivia, Venezuela, Ecuador and Argentina in order to gain access to Latin America's mineral wealth” said Mr. Papadopoulos.
He went on to state that “China's over spending on infrastructure is a significant down payment on their long-term plan described above which incorporates a major goal: A better life for its populace. A large percentage of the population still living in the countryside and farming in a traditional communal-style manner, but it’s estimated that "China's rural population will shrink from the current 900 million to 400 million in 30 years". There are already newly built cities that have roads, buildings, mass transit systems and indeed everything but residents! The benefits on the world trade, when these cities will be inhabited, are obvious. Just to mention that China currently only has around fifty cars per thousand people. In the Western world, not only does there seem to be no such strategic plan to secure resources but also China is in far better financial shape and flexibility, with its huge trade surplus, in comparison with the indebted anaemic economies of USA, Japan and Europe. China has identified the truth that if you solve "energy" you solve most other problems. If oil goes up, so does the cost of delivering iron ore, so too does the cost of mining coal and so do the price of finding more oil” concluded Intermodal’s Tasos Papadopoulos.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Planning Commission, India
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