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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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- The University of Queensland
- White Energy Company Limited
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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