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Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
 The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gulf of Guinea and rather less frequently the waters of South East Asia. Statistically, the numbers of ships attacked and captured by pirates when compared to the number of vessels transiting the Indian Ocean remains small, but the nature of that risk tends to outweigh mere statistics. It is simply unacceptable for ships to be captured and their crews subjected to confinement and unspeakable tortures at pirate hands, so the precautions that will reduce the likelihood of this capture must be taken.
As with any risk, both the probability and consequences must be considered and while the probability of a successful capture might be relatively small, the consequences are such that a mere “percentage game” with owners taking their chances would be irresponsible.
In the case of Somali piracy, the risks quite definitely vary with seasons, with the stormy monsoon period dissuading pirates from operations with their small skiffs, although there have been exceptions noted with the use of motherships. The temptation, during periods when attacks have been few, is to relax one’s guard and to stand down protection teams, but advice has been to the effect that this is a dangerous strategy, as the pirates may well be merely waiting for signs of such relaxation, before launching a fresh assault on shipping.
The pirates, or the controlling brains behind them, are well aware that time is on their side and they can afford to lie low until such time that they believe the guard is down and they will have a better chance of a successful attack. The fact there are still many seafarers still held hostage emphasises this need for ship operators to maintain all their best management practices. It must be recalled that the pirates have also varied their tactics in the past, learning from their mistakes and there is every reason to suppose that this process is continuing.
Ultimately, of course, it is a problem that will not be solved at sea, but by law enforcement ashore, along with the establishment of effective government in Somalia and efficient policing in the Northwest Indian Ocean and around West Africa. The ship operator can only deal with the consequences of a political situation and maintain vigilance until such time that it is safe to stand down the protection. There may be some positive signs from Southern Somalia where a government in Mogadishu is in place and extremists fought off by peacekeeping forces.
But we are clearly a long way from ensuring that the Puntland tribes around the Horn of Africa are engaged in only peaceful pursuits. The naval patrols, the security details aboard ship, the vessels wreathed in razor wire with crews “locked down” for days on end, all remain a reality and sensible precautions are required, as long as piracy threats remain real.
Source: BIMCO / Hellenic Shipping News
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Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
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- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
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