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.
|
|
Sunday, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
Tuesday, 13 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMP 30.61 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 30.61 per cent week on week to 2.95 million mt for ...
|
|
|
Showing 4161 to 4165 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
|
| |
| |
|
