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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
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