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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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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
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