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Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
 The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the light and the beginnings of a sustained recovery. In this sense, London International Shipping Week, which will be in full swing by the time this piece is published, will be a useful thermometer with which to take the patient’s temperature.
We might not get a full appraisal and certainly the industry will need to be kept under observation, but there should be plenty of discussion of whether the worst is over and how quickly earnings and operations can get back to normal.
As a participant this week I shall certainly be looking for signs of returning confidence and full recovery but Jonah that I am, I’m not completely convinced we are out of the woods yet.
The problem that shipping has at the moment is equating activity with achievement. If we all just look busy, the feeling goes, we can work our way out of this. And just when you’re least expecting it, you’ll pop your head up and everything will be rosy again. This scenario is very unlikely to take place, at least in the short term.
For one thing, shipyard capacity is still far, far, too high and the very short memories of those who cashed in at the flood are still strong enough to have them believe that there is money to be made by hanging tight and waiting for better times. In one sense this might be true, if some of the ships lashed together as the yard was being built around them really are as short-lived as some people predict.
It would be a good thing if the global fleet was renewed and its average age reduced so significantly that one source of casualty risk is reduced, or even removed. Unfortunately, recent casualties tend to suggest that it is not as simple as that.
Singling out the shipyards seems a little unfair, after all it is the owners that keep on coming back for more. But the fact that some are prepared to continue to cut prices in order to attract business undermines the entire industry and creates the worst possible two-tier market.
Owners are hardly in the best of health either, an observation based on the eagerness with which they are flocking to new sources of finance – now that the banks have decided they will mostly pass – and their willingness to order against analysis of economic recovery which is far from proven.
The change in complexion of the Chinese economy, even given that country’s extraordinary ability to manage its movements up and down is in stark contrast to the rout being effected on the Indian currency (and others) as a result merely of expectations that the US Fed will taper its QE programme. Micro-economic conditions elsewhere remain fragile to say the least. To take one example, London property prices (and hotel room rates) are high but the country’s recovery seems predicated on very doubtful fundamentals.
Analysts have forecast the end of the commodities boom since the start of the year if not longer and the reversal of fortune in Australia’s economy is testament to that. It seems self-evident that an extractive industry is unsustainable in the very long term but when the demand profile changes, the supply side has to adjust. Look at the tanker market and shale gas for further evidence of that.
The major shipping markets remain volatile and treacherous, even despite the summer’s dry bulk upturn and some semblance of order returning to tanker and containership markets. In the first of these, simply look how far out the forward curve has pushed a recovery – with Cal14 Cape levels below spot values last week.
At the same time costs, primarily as a result of regulation and the cost of quality labour continue to remain high. But the situation here is if anything even more confused. Owners have to budget and plan for some regulations that continue to move away from them and others that seem set in stone, despite concerns that they will be difficult to comply with and will put further pressure on the price of operations.
At the same time, owners are engrossed in hot pursuit of energy efficiency initiatives, many of which sound promising but which are in some cases lacking in empirical evidence as to their efficacy.
Elsewhere, security concerns a remain, with new threats emerging, in Libya, Suez and in the eastern Mediterranean to add to those already well known off east and west Africa. These will hopefully be temporary effects – though ironically some degree of disruption can be good for earnings – but no one can image that a long term closure of the Suez Canal for example is in the industry’s best interest.
New frontiers continue to be explored, with the first Chinese transit of the Northern Sea Route recently completed. Even the secretary general of the IMO has made the journey, suggesting that shipping is preparing for this to become part of the business as usual scenario before long.
And yet doesn’t it also seem likely that during his voyage, Mr Sekimizu will have come to the inescapable conclusion that melting summer ice on the NSR should probably go in the ‘cons’ column when weighing the effect in the context of global warming?
Perhaps he will have returned doubly convinced that the industry must tackle the carbon dioxide issue and perhaps more troublingly, the carbon black issue, before too long.
Still, take a look at this week’s LISW programme and it seems inconceivable that any of these pressing issues will be overlooked. With NGO, governmental and industry representatives from across the board meeting, greeting and generally doing their thing, this is actually a very strong opportunity to build a platform for the next year and beyond.
And in case one was in any doubt that it was a shipping industry affair, there’s even a black tie dinner, where the industry can toast its successes and look to the future, confident it has a handle on all the big issues and solid strategies to cope with them.
Source: BIMCO / Hellenic Shipping News
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Sunday, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
Friday, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
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Showing 4021 to 4025 news of total 6871 |
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- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Planning Commission, India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
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