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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, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Australian Coal Association
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
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