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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- The University of Queensland
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Australian Coal Association
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
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