We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 23 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 3 PERCENT LESS COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 3 per cent week on week to 2.92 million mt for t ...
Sunday, 22 September 13
BDI STRENGTHENS FURTHER AS CAPESIZE FREIGHT RATES JUMP - CAPT. REDDY
COALspot.com: The freight market continued its upward trend and maintaining the moment with BDI and Cape index up by 16 pct week on week. The Capesi ...
Sunday, 22 September 13
API 8 CFR SOUTH CHINA COAL SWAPS ADVANCE
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Sunday, 22 September 13
SUB-BIT INDONESIA COAL SWAPS REMAIN UNDER PRESSURE
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 2.09 percept month on month on Friday 20 September 2 ...
Friday, 20 September 13
SHIP OWNERS INVEST MORE THAN $9.2 BILLION ON NEW BUILDING VESSELS DURING AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that August is traditionally a slow month in terms of ships investment activity, ship owners have grasped this year the opportunity ...
|
|
|
Showing 4106 to 4110 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
|
| |
| |
|
