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.
|
|
Friday, 13 September 13
DIRECTOR GENERAL OF MINERAL AND COAL OF INDONESIA REVISED UP COAL PRICE REFERENCE TO US$ 76.89
COALspot. com - The Indonesian government has revised up its owned coal bench mark price by US$ 0.19/ MT to US$ 76.89 for September 2013 deliveries ...
Thursday, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
|
|
|
Showing 4126 to 4130 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Australian Coal Association
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
|
| |
| |
|
