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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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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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Showing 5751 to 5755 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
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