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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 $3.4 billion for the rights of Aynak copper field, one of the biggest foreign investment in the history of Afghanistan), have made infrastructure-deals in order to secure long-term supplies of resources with at least 35 African countries, and signed notable aggressive agreements with Brazil, Bolivia, Venezuela, Ecuador and Argentina in order to gain access to Latin America's mineral wealth” said Mr. Papadopoulos.
He went on to state that “China's over spending on infrastructure is a significant down payment on their long-term plan described above which incorporates a major goal: A better life for its populace. A large percentage of the population still living in the countryside and farming in a traditional communal-style manner, but it’s estimated that "China's rural population will shrink from the current 900 million to 400 million in 30 years". There are already newly built cities that have roads, buildings, mass transit systems and indeed everything but residents! The benefits on the world trade, when these cities will be inhabited, are obvious. Just to mention that China currently only has around fifty cars per thousand people. In the Western world, not only does there seem to be no such strategic plan to secure resources but also China is in far better financial shape and flexibility, with its huge trade surplus, in comparison with the indebted anaemic economies of USA, Japan and Europe. China has identified the truth that if you solve "energy" you solve most other problems. If oil goes up, so does the cost of delivering iron ore, so too does the cost of mining coal and so do the price of finding more oil” concluded Intermodal’s Tasos Papadopoulos.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- ICICI Bank Limited - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
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