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.
|
|
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
|
|
|
Showing 5146 to 5150 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
|
| |
| |
|
