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.
|
|
Wednesday, 04 September 13
RBCT SHIPPED 16.18 PERCENT MORE COAL IN JULY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal South African as well as in the world has shipped 6,162, ...
Wednesday, 04 September 13
SUPRAS AND HANDIES : INDONESIAN COAL CARGOES ARE SUPPORTING HEALTHY ACTIVITY LEVELS - INTERMODAL
The Dry Bulk market has pooled back a bit this week after firming for two weeks in a row. The BDI is s holding above 1,100 points and despite the sm ...
Tuesday, 03 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 22.93 PER CENT MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 22.93 per cent week on week to 3.39 million mt for ...
Sunday, 01 September 13
COAL SWAP SHOWS MIXED TREND
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery 1.25 percent up month on month. The swap was moved posit ...
Sunday, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
|
|
|
Showing 4141 to 4145 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Parliament of New Zealand
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
|
| |
| |
|
