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, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
|
|
|
Showing 4296 to 4300 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- The University of Queensland
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
|
| |
| |
|
