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ASIA: Inflation alert as China leads the region in economic rebound
Monday, 14 December 2009

(EnergyAsia, December 14, Monday) --- The world should stay alert to the possibility of inflation as a commodities-hungry China continues to drive the global economic recovery, said Societe Generale’s (SG) chief economist for Asia, Glenn Maguire, at a media event last week.

China’s strong investment growth of more than 50% led by the government’s stimulus programme is expected to boost the economy by more than 10% in 2010.

For now, China is focusing on boosting its domestic demand to absorb the surplus production capacity in its export-oriented economy.

SG said the pick-up in auto production and demand in Asia as well as the massive infrastructure investment in China helped the region’s economy rebound. The bank added that the Asian supply chain has adjusted quickly to the pick-up in auto demand and China’s investment spending.

South Korea, Taiwan, Japan, Australia and Brazil were cited as the key beneficiaries of China’s recent growth.

The bank said China’s growth requires it to sharply increase its consumption and import of copper, coal, iron ore, oil and gas, and other commodities.  The country’s investment policy is increasingly having a significant impact on the global capital expenditure cycle.

Mr Maguire advised that the world should be vigilant to the possibility of inflation. While this looks remote under current circumstance, he warned that rising demand for food will likely push up prices, forcing Asian central banks to tighten monetary policies.

While SG is optimistic the global economy no longer requires “crutches”, it also said that there are doubts as to whether the recovery is sustainable without continued massive fiscal and monetary support that have been put in place since the Lehman Brothers bankruptcy in September 2008.

Mr Maquire is predicting the world economy to stage a modest but shaky recovery as governments gradually withdraw policy and monetary supports.
 
INDIA: German coal trading firm HMS Bergbau AG opens Mumbai office
Thursday, 03 December 2009

(EnergyAsia, December 3, Thursday) --- HMS Bergbau AG, a German coal trading, production and logistics group, said it has opened an office in Mumbai, India with its local partner Growell Resources & Management Pvt Ltd as part of its international expansion programme. Growell, established in 1992 by Ashok Ghandi, trades commodities, chemicals and fertilisers.

HMS Bergbau said the cooperation with Growell will help facilitate coal imports into India and better serve customers on the ground.

While Growell will tap into its extensive network of customers of various sizes in India, HMS Bergbau will contribute by sourcing coal sourcing from Indonesia and South Africa and providing international logistics.

Heinz Schernikau, CEO of HMS Bergbau AG, said:
“Global steam coal trade has quadrupled in the past 30 years and is currently seeing annual growth rates of between five and nine percent. India is developing into one of the largest coal importers worldwide. Despite high domestic production, India is a net coal importer because of its own energy consumption and in the past few years has had to increase coal import volumes considerably. We believe that this trend in the world's second most populous country will continue in the coming years. This is mainly due to India's mounting demand for electricity.”

Berlin-based HMS Bergbau AG is an independent coal trading house specialising in just-in-time deliveries of thermal coal to power plants and other industrial consumers. The company is one of the leading coal trading companies in Germany and markets its products to renowned consumers worldwide.

Listed on Germany's Frankfurt Stock Exchange since December 2008, HMS Bergbau is actively expanding its activities to span coal production and logistics solutions primarily in Asia and Eastern Europe. The company is also developing environmental technologies, in particular concerning underground CO2 capture and storage technology.
 
SINGAPORE: DnB NOR bank holds first conference on Asia’s energy, offshore and maritime sector
Monday, 16 November 2009

(EnergyAsia, November 16, Monday) --- DnB NOR Markets, the investment banking arm of the Norwegian financial institution, recently organised its inaugural Asian Investor Conference on the international energy, offshore and maritime sectors.

More than 300 representatives from global investment institutions attended the event to discuss investment opportunities as well as networked with professionals from the offshore and maritime industries.

Guest-of-honour Lim Hwee Hua, Singapore Minister in the Prime Minister’s Office and Second Minister for Finance and Transport, said in her speech:

“Singapore is committed to growing a vibrant capital market that can serve the interests of the international maritime community and its investors here.

“We value the contributions by DnB NOR to Singapore’s development as an international maritime centre.”

DnB NOR Markets’ analysts have begun research on Asian companies and markets, providing some optimistic views for certain markets next year.

Thor Andre Lunder, offshore analyst and head of research in Asia, said: “We are positive about activity, which will pick up significantly in 2010. We estimate E&P spending to increase by 11% in 2010 versus 2009.

“The Asian oil service market represents a good opportunity for investors as the markets are more protected and oil production/exploration does not require as high an oil price as many projects internationally. Projects in the region are highly profitable with current oil prices at US$70-per-barrel-plus.”

However, he also advised caution: “Oil companies highlight that oil service costs need to come down due to the rapid increases in 2006-2008. This, combined with huge asset growth within certain sub-sectors, is likely to put pressure on margins in 2010.”

DnB NOR Markets’ shipping analyst Glenn Lodden warned that the shipping sector would continue to face difficulties.

More than 10% of the global container shipping fleet are now idle, with 70% of this fleet owned by non-operating owners. Meanwhile, spot rates for most shipping sectors are at five year lows.

He said: “We expect that demand will return over the next years, but fleet growth will still outpace demand growth. However, yards continue to deliver ships, prices are being cut and financing solutions are coming into place.”

With container shipping now moving out of peak season, volumes and rates are again showing signs of weakness. The dry bulk market will probably see demand improving, but massive fleet growth will put pressure on fleet utilisation, said Mr Lodden.

In his speech, Erik Borgen, DnB NOR bank’s general manager and Head of Asia, said:

“On the general macro-economic side, we believe the world economy has touched bottom and there will be an upturn of a kind in 2010. But next year will continue to be very tough for the shipping industry. At best we can say the outlook for global shipping next year is uncertain.

“But DnB NOR also believes that amid these difficulties, there are also opportunities for the bank because there will be restructuring taking place and no doubt we shall be playing a role in this for many companies.

“The outlook for the oil and gas industry and the offshore sector in general appears to be looking healthier for 2010.”

Opening the conference, Minister Lim paid tribute to the Norwegian bank. She said:

“DnB NOR has played a significant role in the development of Singapore’s maritime sector since the setting up of its office in Singapore in 1970. In 2007, DnB NOR’s Singapore office opened its Asian Corporate Finance unit.  This year, it set up an Asian Equity Research and Sales Team. DnB NOR’s Singapore office is now its Asian regional headquarters, servicing companies in the shipping, offshore, logistics and energy sectors. We value the contributions by DnB NOR to Singapore’s development as an international maritime centre.”
 
SINGAPORE: Germany’s Hellespont sets up regional office
Friday, 23 October 2009

(EnergyAsia, October 23, Friday) --- Germany’s Hellespont shipping group has established a new company in Singapore, Hellespont Singapore Pte Ltd, to operate offshore vessels in the region.


Captain Andy Lidgard, managing director of Hellespont Singapore, will be tasked with developing relationships with key charterers, sourcing crew for the company’s PSV fleet and establishing Hellespont as operators of offshore vessels.


Phrixos Papachristidis, managing director of Hellespont AG & Co KG, the parent company of the Hamburg-based Hellespont ship management and marine services group, said:


“We have a growing fleet of offshore vessels and we wanted to place the management and operation close to key charterers. Singapore is a key hub for offshore operations and ideal for operating our new fleet of PSVs.


“We expect to expand the company there to provide third party management to other operators, not just in the offshore service vessel field, but also in our other areas of expertise with tankers, chemical tankers and bulk carriers.”


The group manages a fleet of 17 modern crude, product and chemical tankers and two platform supply vessels, and has ordered another three PSVs and six chemical tankers.


The new company is located at 10 Anson Road, #26-08A International Plaza, Singapore 079903, Telephone: +65 62241913. Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .
 
SINGAPORE: IMO fund raises Straits of Malacca stakeholders’ co-operation to a new high
Tuesday, 20 October 2009

(EnergyAsia, October 20, Tuesday) --- Indonesia, Malaysia and Singapore have concluded a joint technical arrangement with the International Maritime Organisation (IMO) for a trust fund that supports co-operation among stakeholders in enhancing safety and marine environment protection in the Straits of Malacca and Singapore.


With an initial contribution of US$1 million from Greece, the fund advances a UN Convention on the Law of the Sea (UNCLOS) provision for international co-operation in maintaining the straits for international navigation since the establishment of the historic Co-operative Mechanism in 2007.


The agremment was signed by the heads of the maritime administrations of the three Southeast Asian countries and the director of Maritime Safety Division of the IMO during the recent 2nd Co-operative Forum hosted by Singapore.
Singapore’s Transport Minister and Second Minister for Foreign Affairs, Raymond Lim, said:


“The Straits remains one of the busiest and most important shipping lanes in the world. I am heartened by the collective interest and commitment of coastal and user States to work together to ensure that the Straits of Malacca and Singapore remain safe and open to shipping.”


He praised the progress made by the Co-operative Mechanism, but highlighted the challenge to sustain interest and encourage participation and contributions from existing as well as new stakeholders.


He stressed that this was critical “as a third of the world's trade and half of its oil passed through the Straits.”
He said: “The Co-operative Mechanism is timely to promote and facilitate international cooperation in this important waterway and that the institutionalisation of the IMO Trust Fund is a very welcome development.”


Mr Lim later presented letters of recognition to the heads of delegations of Australia, China, Greece, India, Japan and the US attending the meeting.


These countries were recognised for their active contributions towards implementing the six initial projects under the Co-operative Mechanism including (i) removal of wrecks in the Straits (ii) enhancing preparedness and response capability against hazardous and noxious substances (HNS) incidents (iii) demonstration trial of AIS class-B transponders (iv) wind, tide and current measurement system (v) replacement and maintenance of navigation aids and (vi) replacement of navigation aids damaged by tsunami off Sumatra.


MPA chief executive Lam Yi Young said that “the co-operation between Straits users and the three littoral states since the establishment of the Co-operative Mechanism has been very encouraging. Going forward, we can expect greater collaboration among Straits stakeholders in ensuring safety and the protection of the marine environment in these important straits used for international navigation.”


The IMO director of Maritime Safety Division (MSD) Koji Sekimizu said: “The fact that the three littoral states have acted in such a timely manner and continue to display a strong determination to move matters forward, thereby building on the momentum established by the IMO-sponsored meetings, to be extremely positive and encouraging.”
 
SINGAPORE: Carbon Forum Asia to attract more than 1,200 participants from more than 80 countries
Monday, 19 October 2009

(EnergyAsia, October 19, Monday) --- The fourth edition of Carbon Forum Asia in Singapore on October 26-27 is expected to attract more than 1,200 participants from more than 80 countries to seek deals, exchange ideas and showcase the latest carbon abatement solutions and technologies.

Adding to the lively atmosphere, the UN Framework Convention on Climate Change (UNFCCC) will be staging its 8th CDM World Designated National Authorities (DNA) Forum in conjunction with Carbon Forum Asia.

Jointly organised by Koelnmesse Pte Ltd and the International Emissions Trading Association (IETA), the event will be held at the Raffles City Convention Centre in Singapore. They are expecting a 10-15% increase in participation from Chinese companies as well as increased presence of US-based companies.

The UNFCCC World DNA Forum will bring together country and government representatives who will share their experiences in clean development mechanism (CDM) and discuss issues leading up to the negotiations at the Copenhagen UN Climate Change Summit in December.

The event will feature a customised networking session on October 28 for DNAs to meet with the exhibitors to discuss the latest innovations in the market.

Koelnmesse general manager Ralph Hendrich said: “We want to establish a platform for buyers and sellers. You will not see crowds of people walking through the exhibition like other trade fairs instead you will see small groups of people at different booths having intense discussions.

“Participants will have to buy a ticket or an exhibitor package for the event. There will be no walk-in visitors. People who come in to the fair have a purpose.”

Will Koelnmesse be paid for each deal made at Carbon Forum Asia?

Mr Hendrich said: “We don’t get a cut from the deals made at Carbon Forum Asia. Our focus is on bringing companies, associations, NGOs, governments and consultants together.  We want this event to be a platform for deal-making and for people to exchange ideas and contacts.”

There will be a conference session featuring high-level discussions covering the carbon market value chain. Expert speakers will discuss issues such as:

•    Making carbon finance work for development in Asia;
•    US politics and implications for Asia in the North American greenhouse gas market;
•    Socioeconomic benefits generated by Asian carbon markets;
•    Changes in CDM guidelines and procedures – how to benefit from the enhancements?
•    Greening the power sector and the role of carbon finance.

Henry Derwent, President and CEO of IETA said:

“There has never been a more crucial time for promotions of carbon-reduction projects to lead the future. With CDM reforms, a new US market, and a whole new chapter opening for Kyoto after 2012, seizing the opportunity that Carbon Forum Asia 2009 provides to meet contacts and hear experts must be on top of every Asian carbon professional agenda.”

Last year’s event drew 109 exhibitors, 60 project developers, DNAs and government officials, over 100 industry leaders, and 1,000 participants from more than 80 countries.

Singapore’s Minister for the Environment and Water Resources Ya’acob Ibrahim will be opening the event.
 
SINGAPORE: Bunker association to press ahead to develop professional industry qualification
Monday, 12 October 2009

(EnergyAsia, October 12, Monday) --- The International Bunker Industry Association (IBIA) will use its platform at this week’s annual convention in Singapore to continue efforts at developing a professional bunker industry qualification.

Chris Fisher, chairman of IBIA, will explain to delegates and association members how it intends to help the industry professionals gain formal qualification.

In a statement, he said: “IBIA is not looking to move further into the training sector, but many of our members have shown an interest in an IBIA qualification. The concept under consideration envisages IBIA preparing examination material for up to three levels – basic, advanced and higher.

“IBIA would work with existing training establishments to ensure that the proper examination material subjects were included, to the level required, and would then recommend appropriate training programmes for students wishing to take the examinations. IBIA would select an existing, professional third party to provide facilities on a global basis for students to sit the examinations under controlled conditions.”

“Clearly, IBIA cannot become involved in the cost of attending third-party training events, but our aim is to keep the cost of the examination and qualification process as low as possible by providing examination facilities in as many locations around the world as possible. This would keep student travel costs down.

“The examination fee should be modest; sufficient to cover venue costs, invigilation and certification. Where possible we would endeavour to minimise costs by registering a number of students to sit the examination at the same time.”

IBIA has continued to consult industry members since last year when it made known plans for a professional industry qualification.

In a recent survey, IBIA said it found that members believe a professional bunkering qualification would help raise industry standards, and that they would support those working towards such a qualification.

The survey results will be among the current industry concerns to be covered at the IBIA convention along with issues pertaining to fuel quality, the environment and the financial crisis, and the outlook for Asia’s economies.

Mr Fisher said: “Education is vital. Specifically, I believe that, if the buyer is well-trained and qualified, a large proportion of problems could be avoided. Too many owners are leaving their purchase functions to individual operators who never have time to attend courses or conferences.

“Traders, brokers and suppliers do make up most of the delegates on training courses, but more education is needed. Purchasers and suppliers need to be aware of the benefits that well-informed staff can give to their company. Qualifications would be a great way to enhance both IBIA and the bunkering industry and would allow people in the industry to develop and gain personal satisfaction.”

Founded in 1993, IBIA is the trade association of the global bunker industry. Its membership is drawn from bunker buyers, traders, brokers, suppliers and service companies worldwide. IBIA is dedicated to promoting quality and professionalism in international bunkering, and is engaged in a series of long-term initiatives designed to raise standards in the industry.
 
SINGAPORE: Industry specialist HMT to lead expert discussion at October 28-29 fuel storage event
Friday, 02 October 2009

(EnergyAsia, October 2, Friday) --- Global tank solutions provider HMT will be spearheading efforts at upgrading terminal storage industry practices in Asia at the “Fuel Storage and Terminalling Course: Management and Operations” event on October 28-29 in Singapore.

Through its Singapore office at HMT Pte Ltd, the Texas, US-based storage tank specialists will be sharing their in-depth knowledge and worldwide experience with diverse members of the regional storage tank industry including terminal owners and operators, oil and gas companies, power generation companies, fuel and bunker traders, logistics and distribution experts, tank inspection, maintenance and cleaning service providers, engineering firms, health, environment, safety and security specialists, surveyors and numerous ancillary services providers.

Bill Stapleton, executive vice president at HMT Inc, will be flying-in from the company’s headquarters in Houston, the US to join Paul Butler, regional manager for Asia-Pacific, to share their expertise.

Mr Stapleton, a storage tank industry veteran with over 30 years’ experience, will present “Innovation in Tank Design and Construction to Attain Operating Capacity Gains and Inventory Reduction”, “Best Practices of Operations and Management”, Environmental Strategies for Storage Terminals” and “Strategies for Tank Storage Maintenance”.

Mr Butler, who has 15 years in the industry, will be co-presenting on the above topics.

HMT provides a complete line of products and services for aboveground storage tanks including tank inspection, maintenance and repair, fabrication, engineering and design, coating and lining, calibration, new tank construction and turnkey services. The company’s tank products meet or exceed the requirements for Emission Controls under the US EPA, API and European IPPC / BREF regulations.

Organised by August Energy Pte Ltd, next month’s fuel storage event is prompted by the surging demand for fuel storage facilities due to the global oil stockpiling frenzy to address energy security concerns.

Other expert firms sharing their domain knowledge at the event the Singapore Civil Defence Force (SCDF), ST-Airport Services Pte Ltd, STET Maritime Pte Ltd, Emerson Process Management, Applus RTD Application Centre Asia & Pacific, TechSafe Sales Asia Pte Ltd, and Fairworth Associates.

They will cover topics related specifically to the safety, security, environmental and health issues of operating fuel storage tanks and terminals in Singapore and Asia. As more companies build oil, gas and chemical storage terminals in the region, there is growing concern that these facilities, if not properly designed, built and managed, could pose a threat to the community at large.

The course programme and other event details are available at August Energy’s site http://www.augustenergy.biz. Also, please contact August Energy at +65 6438 0933, or send an email to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .
 
DUBAI: Gates Corporation acquires engineering firm Hydrolink
Wednesday, 23 September 2009

(EnergyAsia, September 23, Wednesday) ---- Gates Corporation, the largest non-tire rubber manufacturer of automotive and industrial products, systems and components in North America, said it recently acquired Dubai-based Hydrolink, a provider of engineering, fabrication services for the oil and gas industry as well as service operations for fluid power products in the Persian Gulf region.

Gates Corp said the acquisition allows the company to penetrate the fluid power products market in the Middle East and CIS regions, which is estimated to be worth US$480 million per year.

Group president David Gau said: “As an established leader in this vibrant and growing oil and gas market, Hydrolink is uniquely positioned to serve the oil and gas industry needs, and is a natural addition to Gates engineering and services group.

“The acquisition creates new opportunities for Gates to expand our product and services offering at existing clients as well as extend some of our core competencies to Hydrolink.”

Hydrolink’s group managing director, Kevin Roberts, said: “The alignment with Gates will give us a great opportunity to accelerate growth in the region and other oil and gas hotspots and further enhance customer satisfaction.  I am delighted to be associated with an internationally respected company like Gates.”

Hydrolink began operating in 1988 and has since expanded to 20 locations in the Middle East and CIS regions.

Gates Corp is part of the Industrial and Automotive Group of UK’s Tomkins plc.
 
SINGAPORE: Neftech targets at least 10% fuel cost saving, lower emissions for shipping industry with
Tuesday, 22 September 2009

(EnergyAsia, September 22, Tuesday) --- Two Singapore companies, green energy R&D company Neftech Pte Ltd and container shipping operator APL, have agreed to work together to develop cleaner and more efficient fuel solutions for use in shipping fleets. They expect Neftech’s proprietary cavitation technology to deliver at least 10% in fuel cost saving for users in addition to reducing greenhouse gas emissions from ships.

Neftech has begun installing cavitation technology equipment on 20 ships owned and operated by APL, a wholly-owned subsidiary of global container shipping, terminals and logistics group Neptune Orient Lines Limited (NOL).

At a joint briefing last week, the companies said the technology, developed by Russian scientists, uses a fuel emulsification process that adds water to heavy fuel oil to produce a superior emulsified fuel for ships. HFO is the low-grade fuel used for powering the engines of ocean-going vessels.

They said that tests conducted on two APL container ships over a 12-month period showed “significant” fuel savings on generators and main engines, as well as substantial reductions in the ships’ carbon emissions.

Victor Levin, the Singapore-based Russian chairman of Neftech, said: “We believe we are the first in this industry to utilise this revolutionary Cavitation Technology for the fuel emulsification process.

“The cavitation effect (breaks) water clusters into smaller clusters or individual molecules, thereby achieving more complete fuel combustion. 

As such, there will be higher efficiency in fuel consumption as compared to the conventional HFO. In addition to substantial fuel cost savings for ship owners and operators, this application will also reduce the shipping industry’s continuing production of main greenhouse gases.”

Cheng Wai Keung, NOL chairman, said: “In today’s highly challenging business landscape, reducing costs, increasing efficiency and lessening the environmental impact of our operations are among the biggest challenges we face. Neftech offers a strong value proposition.”

Under the terms of the agreement, Neftech will bear the cost of installating its fuel-saving equipment on-board the 20 ships, with payment terms to be in the form of fuel savings and carbon credits to be shared with APL in an agreed ratio based on proven and documented cost savings. The installation programme is expected to be completed over the next 12 months.

Mr Levin said he expects Neftech, which has started marketing the technology to other shipping companies and the power industry, to make annual revenue of around US$1 billion.

Justifying this ambitious target, Lim How Teck, a Neftech shareholder and former NOL deputy CEO, said the company will make a strong case for fuel savings with the shipping industry which spends more than US$160 billion a year on fuel. This is based on their use of nearly 370 million tons of fuel a year at an average cost of US$450 per tonne.

Incorporated in Singapore in 2007, Neftech is a high tech company founded by Russian scientists with over 35 years of research and development expertise in the field of cavitation technology.

The company is 63%-owned by Russian interests with the remaining held by local shareholders including S.P. Quek, China Auto Corp chairman, former NOL director and deputy CEO Lim How Teck, GK Goh chairman Goh Geok Khim and former transport minister Yeo Cheow Tong.

APL is a global container shipping business offering more than 60 weekly services and more than 500 calls at more than 140 ports worldwide.
 
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