We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 and developing economies continues to be strong, slowdowns caused by the devastating earthquake and tsunami in Japan, weaker than expected activity in the US and shocks to oil supply weighed on the global expansion in the second quarter of the year, the IMF said recently.
The most influential negative surprise was the upsetting effects of the earthquake and tsunami on the Japanese economy, with supply chain disruptions weighing heavily on industrial production, and consumer sentiment and spending in the world’s 3rd largest economy and beyond.
Meanwhile, GDP growth in the Eurozone, driven by Germany and France, has been better than the IMF expected, but concerns about the depth of fiscal challenges in some European countries and the US have triggered renewed heavy financial volatility.
This ongoing financial turmoil has created a delicate moment for the global economy, and the crisis is not over until advanced economies are creating enough jobs again, according to the OECD.
The organisation also points out that there is some concern that if downside risks reinforce each other, their cumulative impact could weaken the recovery significantly, possibly triggering stagflation in some advanced economies. Despite the negative surprises, global growth attained an annualized rate of 4.3% in Q1 2011. But the mild not very comforting. What should calm this turbulence and bridge the gap to a more steady global economy? Public stimuli from governments across the globe, which should have held up economic growth until private consumption had run out. This has happened prior to a re-emergence of a self-sustained economic environment where consumers once again strongly push demand and growth forward. The markets cry out for decisive action, but politicians hesitate and refrain from dealing with this challenge as they are about to run out of tools and fear a new era of inflation. However, doing nothing only makes things worse. Who are we to rely on?
By mid-June, IMF adjusted 2011 World GDP growth downwards and inflation upwards in the direction of stagflation. Having said that, there are still some unlikely ways to go before the recovery turns that sour.
Commodity prices, mainly food and oil, have been on the rise most of the year generating inflationary pressure in mainly emerging and developing economies. Meanwhile, the problem in some advanced economies is the opposite – that is deflation and fears of a deflationary spiral where lower prices lead to lower production, which in turn leads to lower wages and lower demand – which in turn leads to even lower prices.
US:Poor second quarter GDP growth in the US unfortunately proved that the so-called “soft patch” is not disappearing easily as its expected temporary status is getting closer to permanent. The growth number came in at 1.3% as compared to Q1 growth of 0.4%. US manufacturing ISM disclosed this development with the steep drop in May and soft comeback in June. ISM for July came in at 50.9 signalling that Q3 could be tough too.
On the (temporarily) positive side – the US debtlimit has been elevated by a last-minute compromise.
A US default would have put more obstacles in the way for US and global recovery than we are already challenged by today. The uncertainty surrounding the US debt ceiling negotiations meant, amongst other things, that the Dol high.
Since the turn of the year the EUR/USD cross exchange rate has gone from 1.34 to peak at 1.48 at the end of April. Since then, the cross rate has hovered around its current level at 1.44. (Follow the EUR/USD cross exchange rate via your MyBIMCO profile)
Being a political much more than an economic crisis, the problems created by this domestic political battle have been far-reaching, and developed an unnecessary uncertainty about the US’ ability to pay its dues as well as its future direction for economic development.
Asia: China’s official manufacturing PMI fell in July for four months in a row to a 29-month low of 50.7, down 0.2 from June. Also the HSBC/Markit manufacturing PMI, focusing more on smaller private companies, dropped in July. Actually it dropped below the 50 point threshold, signalling that the economy is no longer expanding. Sustained domestic fiscal tightening and weak foreign demand are the reasons behind this new low-point. A closer reading of the underlying components such as new orders in the official PMI suggests that a “soft landing” is more likely than a “hard landing”.
This may, in turn, translate into a bottoming out at current level of the manufacturing PMI and thus also the underlying industrial production. GDP growth to remain strong at current manufacturing levels, with second quarter GDP growth at 9.5%
As inflation is still high on the agenda in China, the central bank is unlikely to change its course due to developments in 2011. Monetary policy has been contractive to handle growth and inflation and another round of austerity measures cannot be ruled out for the second half of the year, despite the recent slowdown on key export markets as well as domestically.
Despite the upward adjustment of GDP growth for 2011 by the IMF, Europe is continuously haunted by the unsustainable economic situation in Greece, Spain, Portugal, Ireland and Italy. Following the passing of essential getback- on-track bills by the Greek Parliament, the financial markets started to breathe almost normally for a while as focus shipped toward the other side of the pond by the debt-ceiling issue in the US. But shortly after that was settled, the financial markets reacted strongly again to the overall uncertain financial situation on both sides of the Atlantic.
Outlook: Looking ahead in China, domestic demand is set to continue to be boosted by the local governments’ strong efforts to build public housing and China’s export growth should be supported by rising demand from the emerging economies. Rising demand from advanced economies is likely to remain subdued in coming months.
Japan is clawing its way back towards normality but the road remains bumpy and challenging. Both in terms of normal living and in terms of economic recovery the challenges are clear and present. This is hurtful in Japan and beyond.
As a US default on payments is no longer a short term threat to the US, the US Dollar could gain some strength against the Euro. In the medium term, the threat to the US economy – and subsequently the global economy – is whether the planned budget savings are severe enough to avoid another credit downgrading and the subsequent political uncertainty. Moreover, employment growth and GDP growth is set stay too weak to create a powerful and sustainable economy in the coming months.
Following the 2 million barrels per day for one month release from IEA oil reserves, oil prices have moved sideways. The move was made to rebalance supply with demand in respond to the disruptions in the availability of oil due to the shortfall of Libyan output and to put a damper on oil price inflation as it drags down pace of the much needed global recovery. The move to release IEA oil stocks has only happened twice before. 1) In the build up to the Gulf War in 1991 and 2) after Hurricanes Katrina and Rita damaged offshore oil rigs, pipelines, and refineries in the Gulf of Mexico in 2005.
The absence of major OPEC increases of oil supply to the market prompted the move by IEA, due to a real possibility that commercial stocks could fall to the bottom of their seasonal range, risking a renewed damaging and sustained surge in oil prices in Q3 and Q4.
Source : Peter Sand Bimco / Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
|
|
|
Showing 5136 to 5140 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
|
| |
| |
|
