We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
 The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all ship types. After all, owners, especially tanker ones, are already struggling amid extremely weak rates, abundant tonnage supply and prospects of more new tankers entering the fleet in the next few years. Similar conditions were faced by owners in 2009, yet back then the balance sheets were much healthier following years of prosperity in the industry between 2004 and 2008.
In its latest weekly report, London-based shipbroker notes some striking similarities between today’s crisis and the one of 2008. It says that “the whole world was taken aback when Standard & Poor’s downgraded the US’s credit rating from AAA by one level to AA+. The downgrade took place after a week of rapidly falling equity markets internationally and a perilous escalation of the debt crisis in Europe.
As a result, the equity markets this week also have been very volatile. Shipping stocks have not been immune to turmoil, with many publicly traded companies seeing double digit losses. A similar picture was observed in many commodities markets, with Brent front month futures falling to a low of $102.57/bbl earlier this week, from a recent peak of $126.65/bbl in mid-April. The latest developments create a sense of déjà vu, with what economies around the globe went through at the outset of the recession in the second half of 2008. Back then, equity markets also witnessed a rapid decline. Likewise, oil and many other commodities plummeted. Of course, the crisis now is not exactly the same as the economic meltdown back in late 2008. However, the striking similarities are alarming and intensify the fears of a double-dip recession.
Indeed, we are already noting signs of slowdown both in the global economy and in world oil demand. Many advanced economies are revising down their growth expectations on the back of sluggish economic activity in recent months. In terms of oil, the International Energy Agency provided initial estimates of net zero growth in global oil demand in June.
Furthermore, it warned that current economic climate poses a major threat to future demand growth. The agency estimated that a 1.4% reduction in world GDP figures this year and next will cut the expansion in global oil consumption by 0.3 million b/d in 2011 and by 1.3 million b/d in 2012” noted Gibson.
Still, it offers a note of optimism, commenting that “however it is still too early to forecast the doom and gloom seen back in late 2008 and throughout 2009 to be relived this time around. Nonetheless, the world appears to be a different place now than it was two weeks ago, with the latest developments clearly posing a colossal new threat not only to global economy at large but also to the tanker industry” concluded Gibson.
Meanwhile, in its analysis of the past week for the tanker markets, Gibson mentioned that “Chinese refineries undergoing maintenance, a midweek holiday in Singapore and a softer bunker price was always going to continue to provide impetus to Charterers to exert pressure on what is already a very weak VLCC market. And this will probably be unrelenting as we veer towards the end of the August programme with East continuing at around WS 45 and West at WS 35. Suezmaxes have gradually thinned out, but without sufficient enquiry to help support them, rates will continue to march sideways at around WS 77.5 East and WS 57.5 West. An exceedingly quiet week on the Aframaxes leads them to being relatively untested by their usual standards, but the continued weakness in the Far East will allow 80 x WS 110 East to be the prevailing benchmark set by Charterers for Arabian Gulf to Singapore.
Suezmax enquiry in West Africa remains at a drip feed basis as it continues to test Owners' mettle. Voyages to the Atlantic are now being achieved at 130 x WS 62.5 with voyages to the continent commanding around 5 points higher with the status quo persisting into next week. The VLCC market remains relatively unchanged rate wise since last week as Eastern destinations are operating a shade below 260,000 x WS 44, with West at WS 47.5 with moderate forward enquiry unlikely to provide few surprises on the horizon.
Aframaxes began the week as the previous ended, with activity continuing. The critical mass seemed to have been achieved as rates crept up 2.5 points for all areas with WS 90 for Ceyhan loads and reports of WS 92.5 for Black Sea loads being achieved. However, as the cargos began to dry up a little in the Mediterranean and fixing dates began to drift further away, rate increases hit a wall and look to be stable now. However, as the new bunker price filters through to Owners' calculations we may see erosion once more. Suezmax enquiry emanating from the Black Sea is just enough to keep rates at around 135 x WS 70, but a mild discount can possibly be on the cards next week if the same mood and inactivity persists” said Gibson.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
|
|
|
Showing 5126 to 5130 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- GMR Energy Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
|
| |
| |
|
