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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
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