Monday, April 18, 2011
TMM have probably done their views on European debt to death over the past 2 days so even though it looks like the market is on a Euro-Zombie hunt, all it has come up with is that Greece may restructure. About as impressive as going tiger hunting and coming back with a pack of bacon from Tesco. With the Easter holidays kicking off this week, it doesn’t feel as though anyone really wants to do anything they don’t have to but the sales forces have gone into overdrive trying to tip clients into panic mode again. Which is all getting a bit wearing.
If the brokers had their way today you would see everyone heading for the bunkers again. Which made TMM wonder where you get them from. We haven't seen them in the local home and garden DIY stores alongside the sheds and pergolas but imagine there is some huge international trade in these things that we just aren't aware of. If there is should we expect Bloomberg coverage to pick up to keep bunker speculators informed? We would look forward to stories along the following lines.
* BBG : Q1 2011 BUNKER SALES RALLY 57%
Bunker sales have rallied strongly, say the International Bunker Sales Consortium. Like for like sales for Q1 2011 rose 57% on new orders from Libya, Cote D'Ivoire, Greece and Portugal.
Herman von Duckencover from SchnellfurdasBunker Gmbh said that German bunkers were a natural choice for most buyers given their proven track record and expertise with poured concrete technology. German Premier Mangler Merkel, speaking at the German Bunker Manufacturers Conference somewhere underneath Berlin said "Bunker technology is the future. Germany plans for bunker development and manufacture to be responsible for 23% of GDP by 2013" Bunker analyst, Runin Hide, said "The secondary benefits are already being seen. Hamburg has taken orders for 4 specialist Bunker Transport Ships totaling 1 Megatonne capacity and Piraeus has already seen the start of a major port redevelopment to allow for the delivery of new mega-bunkers for Athens.
Spain says its future needs are adequately supplied through an exclusivity agreement with China, though China refused to comment. Libya's plans to join the secondary market have been delayed by blocking by the out going presidency of the reforms needed to allow the export of second hand bunkers.
Next weeks G20 summit is expected to discuss North Korean bunker market manipulation. The US is particularly concerned that bunker hoarding by the people's democratic republic has led to price disparities that have disadvantaged western bunker manufacturers. A communique is expected calling upon North Korea to free up its Bunker market. Official figures are unavailable as to the bunker reserves held by the country but officials estimate that they control up to 30% of the market.
The US are particularly keen to open the global bunker markets in readiness for the release of their Californian made electric bunker. With an expected range of at least 30 days on a supply of batteries originally designed to power electric toothbrushes, the Terre-slurp B is seen to compete with Krupps Gross-ferkoffen-Bunker which runs on traditional materials. Meanwhile Fiat has introduced a new convertible bunker that looses its roof in just 15 seconds.
For today at least TMM are ignoring the sirens and are going to relax in the run up to the holidays.