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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 $3.4 billion for the rights of Aynak copper field, one of the biggest foreign investment in the history of Afghanistan), have made infrastructure-deals in order to secure long-term supplies of resources with at least 35 African countries, and signed notable aggressive agreements with Brazil, Bolivia, Venezuela, Ecuador and Argentina in order to gain access to Latin America's mineral wealth” said Mr. Papadopoulos.
He went on to state that “China's over spending on infrastructure is a significant down payment on their long-term plan described above which incorporates a major goal: A better life for its populace. A large percentage of the population still living in the countryside and farming in a traditional communal-style manner, but it’s estimated that "China's rural population will shrink from the current 900 million to 400 million in 30 years". There are already newly built cities that have roads, buildings, mass transit systems and indeed everything but residents! The benefits on the world trade, when these cities will be inhabited, are obvious. Just to mention that China currently only has around fifty cars per thousand people. In the Western world, not only does there seem to be no such strategic plan to secure resources but also China is in far better financial shape and flexibility, with its huge trade surplus, in comparison with the indebted anaemic economies of USA, Japan and Europe. China has identified the truth that if you solve "energy" you solve most other problems. If oil goes up, so does the cost of delivering iron ore, so too does the cost of mining coal and so do the price of finding more oil” concluded Intermodal’s Tasos Papadopoulos.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Australian Coal Association
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
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