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Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
 Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dry Index (BDI) to plunge by almost 30% in a month, ending the week at 2,694 points, down 90 on a daily basis. The index had rallied at more than 4,000 points just a few weeks, sparking renewed investment interest by ship owners. But, as most have realized by now, volatility will remain the norm for the market as the year progresses, with the so called “China factor” proving to be even more crucial for the market’s behavior.
According to Weberseas’ latest weekly report, “the expected mid-summer correction continued this week, affecting all sizes, but in particular the larger sizes with the capesize and panamax. However not to forget that China and Taiwan were on holiday from Monday to Wednesday this week made matters worse. On the other hand, positive news are coming from China where the country's net coal imports are expected to reach a huge 170 million tonnes this year. The same figure for 2009 was 103 million tonnes so this year we could see a jump in coal imports by as much as 65%. And why is this important news? Simply because China's energy consumption comes mostly from coal - in 2009 alone coal accounted for nearly 70% of the country's total energy consumption. Thus, coal movements into China will increase and this will be reflected in freight rates” said Weberseas.
Reflecting on Chinese economy and more interestingly for dry bulk ship owners on the steel industry, Commodore Research issued its monthly report on the subject, saying that “Chinese crude steel production set another new monthly record in May - but fears of an impending economic slowdown coming to China persist. China produced 56.17 million tons of crude steel in May, an increase of 770,000 tons (1%) from the previous monthly record of 55.4mt produced in April. Despite another month of record setting crude steel production, many market observers continue to expect that rapid economic growth in China will soon decrease.
Concerns are flooding the financial and shipping markets that recent government policies aimed at restricting bank lending and slowing the swift rise in real estate prices will drastically reduce economic growth in China. We believe that these fears are valid but anticipate Chinese economic growth will maintain robustness for the foreseeable future, even if lending moderates and real estate prices become less robust. Any decline in growth is expected to be small, and moderate lending and firm industrial demand and consumer spending are expected to continue. We do believe, however, that Chinese steel output will decrease in the short-term from an extremely robust level of current production” said the report.
It went on to state that Chinese steel prices remain under pressure and steel mills have begun to announce short-term production cuts and “maintenance” that will slow some blast furnaces. “Chinese steel stockpiles have decreased from a month ago, though, with stockpiles of flat and construction steel products now totaling about 15.2 million tons, a decrease of 300,000 tons (-2%). Current stockpiles are 3.38mt (-18%) lower than the record 18.58mt of steel stockpiled in the beginning of March. Chinese steel output is therefore still expected to remain strong even though output is likely to decline this month as steel producers react to falling prices. Chinese steel exports continue to reach monthly volumes not seen since 2008. China exported 4.94 million tons of steel in May, an increase of 630,000 tons (15%) from the 4.31mt exported in April. In the first five months of 2010, Chinese steel exports have averaged 3.59mt per month, an increase of 1.54mt (75%) from 2009‘s monthly average of 2.05mt. A steady increase in global steel demand continues to contribute to robust Chinese steel production” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
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- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- MS Steel International - UAE
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Romanian Commodities Exchange
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