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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, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
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- Planning Commission, India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
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