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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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Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Trasteel International SA, Italy
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Planning Commission, India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
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