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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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Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
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- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- The University of Queensland
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
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