Tuesday, May 29, 2007

Andrea, Barry, Chantal, Dean, Erin or Felixxxxx

As Atlantic hurricane season starts from June 1, NOAA Climate Prediction Center has issued a cautious prediction for the upcoming season. The initial forecast for 2007 is same as that was for 2006, a year which fell way short on NOAA expectations due to sudden outbreak of El Nino.

Scientists are giving three fourth chance to an above normal season in 2007. They expect La Nina to help them get their numbers on the whirlpool roulette this year.



Some attribute increased seasonal activity in the Atlantic ocean in recent years to the global warming. Whereas some have worked out that the warming has contributed only abt 1% to the raging ocean. The debate is still wide open to the house.

While academists argue, Oil has already breached 70 at the start line.

Friday, May 11, 2007

Shipping Tsunami to hit Indian Coast

In order to capitalize on neo market's unfathomed appetite, men with money first glutted China and now the destination is India.
With Carbon emission norms becoming the order of the day, developed nations are progressively finding it difficult to add more chimneys to their roof tops. Most of the developed nations are smoking more than the safe limit prescribed by environmentalists. In such a scenario Indian govt. decided to take advantage of its comparatively bluer sky and relatively virgin territory for processing raw viz. crude and Iron ore, to feed hungry markets with petro products and steel.
Petro projections
2005 to 2010 - India would be adding abt 95 million tons/ year to its crude refining capacity i.e. doubling its capacity to 4.82 million barrels per day as it steps up efforts to become a major global fuel exporter.
Steel projections
2005 to 2010 - India would be adding abt 70-80 million tons/ year to its existing steel production, which is amost a three fold leap totalling 125million tons. But in this case India will be getting high on own supplies, ie, most of the product will go to domestic market unless arbitrage opportunity.
Arcelor Mittal, Korean steel giant POSCO, Nippon Steel Corp. , China's Sinosteel Corp and Baoshan Iron & steel are among the major foreign players on Indian ground.
India has huge reserves of Iron ore but it has to import most of the coking/met coal required in the process. Similarly, all of the additional capacity in oil refineries is translatating into imports of crude oil. Therefore by 2010, shipping activity is expected to grow many folds on Indian coast.
India welcomes and presents a plethora of opportunity to ship owners, brokers, agents etc.Lets raise a toast to good times ahead WSNP AGW.