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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, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Australian Coal Association
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
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