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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 $3.4 billion for the rights of Aynak copper field, one of the biggest foreign investment in the history of Afghanistan), have made infrastructure-deals in order to secure long-term supplies of resources with at least 35 African countries, and signed notable aggressive agreements with Brazil, Bolivia, Venezuela, Ecuador and Argentina in order to gain access to Latin America's mineral wealth” said Mr. Papadopoulos.
He went on to state that “China's over spending on infrastructure is a significant down payment on their long-term plan described above which incorporates a major goal: A better life for its populace. A large percentage of the population still living in the countryside and farming in a traditional communal-style manner, but it’s estimated that "China's rural population will shrink from the current 900 million to 400 million in 30 years". There are already newly built cities that have roads, buildings, mass transit systems and indeed everything but residents! The benefits on the world trade, when these cities will be inhabited, are obvious. Just to mention that China currently only has around fifty cars per thousand people. In the Western world, not only does there seem to be no such strategic plan to secure resources but also China is in far better financial shape and flexibility, with its huge trade surplus, in comparison with the indebted anaemic economies of USA, Japan and Europe. China has identified the truth that if you solve "energy" you solve most other problems. If oil goes up, so does the cost of delivering iron ore, so too does the cost of mining coal and so do the price of finding more oil” concluded Intermodal’s Tasos Papadopoulos.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Latin American Coal - Colombia
- Parry Sugars Refinery, India
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- Trasteel International SA, Italy
- Minerals Council of Australia
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- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
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- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
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- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
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- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
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- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
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