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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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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- Planning Commission, India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
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