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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Planning Commission, India
- Heidelberg Cement - Germany
- The University of Queensland
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
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