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Monday, 29 July 13
INDONESIA'S ENERGY NEEDS COULD SPELL GOOD NEWS FOR TANKER OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite abundant energy resources, Indonesia has still failed meet its own demand, which led to a rising import of crude. According to the latest weekly report from London-based shipbroker Gibson, "it wasn’t that long ago that Indonesia was described as the underperforming gem of the Far-East, having an abundance of natural resources: oil, gas, coal, timber etc. Economic growth has been in the region of 5-6% p.a. over the past several years, but could have achieved growth similar to that of China or India, given the right conditionns.
However, recent statistics indicate that this same nation is very much in energy decline, with reserves of crude oil and coal depleting rapidly. The BP Statistical Review of World Energy 2013, shows that Indonesian oil reserves have fallen to 3.7 billion barrels and are forcing the government to import more crude and product to meet rising oil demand. Ageing fields and the lack on new discoveriees continues to be a major headache for a nation which was still a member of the Opec family less than 5 years ago" it said.
Gibson noted that "the BP review shows that last year oil production from the Asian nation stood at 918,000 b/d, while consumption was close to 1.6 million b/d. Indonesian oil production has now fallen to a 40 year low causing the government considerable difficulty both in terms of diminishing export revenue and the fact that energy subsidies have been providing Indonesians with the cheapest fuel in Asia. In order to reduce the nation’s budget deficit, the government in June announced a 20% cut in subsidies. Although no date has been set for the introduction of this price hike, widespread demonstrations have resulted. Indonesia’s production target for this year has been set at 900,000 b/d, but this is unlikely to be achieved with the energy regulator forecasting nearer 830,000 b/d. At the same time, fuel c nsumption and crude imports are surging on the back of cheap subsidised fuel causing the deficit to widen", Gibson said.
According to the shipbroker, "Indonesia has been forced to make up its crude shortfall with imports from Saudi Arabia, West Africa, Libya and Azerbaijan, while the dwindling exports go into the short-haul intra-Asia trade. Aspirations to increase refinery capacity have so far failed to materialise with a failed partnership with Iran abandoned some years ago. More recently negotiations with Iraq, Azerbaijan and Saudi Arabia have led to little more than discussion and no formal projects have been tabled to date. Indonesia has the fourth largest population in the world, and the gap between crude production and consumption continues to grow, causing major political issues. While LNG will provide some respite for the government, it is clear that the demand for both crude and pooduct transportationn will provide growth opportunities for tankers as Indonesia’s growing demand fails to be met internallly.
Meanwhile, in the crude tanker market this week, in the Middle East, "VLCC continued to follow the same track already beaten in June and July with chaterers initially witholdinng to draw down sentiment, and then fixing in numbers to take advantage of that, setting a new 'conference' lower raterange of ws 34/36 to the East and ws 22/23 to the West via Cappe. Now we are effectively at the half-time point in the August game, and if the previous path continues to be followed, then another busier patch will eventtually develop to hand opportunity back to owners once again. Unfortunately for them, this time, availability is a little heavier on the eye, and the Atlantic market is much less supportive, so the peaks of July are less likely to be reachieved even if an upswing does indeed develop.
Suezmaxes enjoyed another week of very strong activity with an over-abundance of short hauls to India also a feature. Rates jumped to as high as ws 55 to the West and close to ws 90 for India with around ws 70 achievable for longer hauls to the East. Aframaxes kept to a steady beat and stayed tight enough to maintain rates in the low/mid ws 90,s bracket to Singapore, where they should remain for the near term at least", Gibson noted.
Finally, in the Mediterannean, "Suezmaxes here operated in reverse manner with the back end of the week showing more strength than the start.140,000 from the Black Sea moved to as high as ws 70 to Europe, with a ws 75 rumoured, but not proved. Volumes aren’t especially heavy, but tight availability on the earlier dates has forced some issues. Aframaxes kicked off nicely, but gradually found supply outweighed demand, and rates fell to 80,000 by ws 77.5/80 Cross Med, and moves to dates that look well enough tonnaged to keep the market soft", Gibson concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 01 August 13
CAPESIZE: THE FLOW OF CARGOES REMAINS RELATIVELY STABLE, AND THE PACIFIC IS LOOKING PROMISING - FEARNLEYS AS
Handy
The Pacific market is still facing low activity, so no wonder that the tonnage list is getting longer. It´s still Ramadan and only a fe ...
Wednesday, 31 July 13
COAL GASIFICATION
IBC’s Coal Gasification conference explores the opportunities for coal gasification investment and development in Asia.
With depleting dome ...
Wednesday, 31 July 13
SUPRAMAX : THE PACIFIC BASIN WAS MOVING ON A POSITIVE PATH - EVA TZIMA
COALspot.com: Cape - Despite holding their ground fairly well early on in the week, Capes in the Atlantic basin gave in to the mounting pressure fro ...
Tuesday, 30 July 13
HARD COAL ON THE WAY TO BECOMING THE WORLD'S MOST IMPORTANT ENERGY SOURCE - VDKI
Press Release : Hard coal continued to be the world’s fastest-growing fossil primary energy source in 2012. It covered about 28% of the world ...
Tuesday, 30 July 13
WIJAYA TRI UTAMA PURCHASES MICROCOAL TECHNOLOGIES' CLEAN COAL UPGRADING FACILITY
- First MCI commercial scale application of proprietary microwave technology to upgrade coal thermal output and reduce pollutants
- MicroCoal to re ...
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- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- The University of Queensland
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
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