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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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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Parliament of New Zealand
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
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