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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, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
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- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Planning Commission, India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
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