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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, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
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