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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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Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- The University of Queensland
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
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