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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, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- MS Steel International - UAE
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
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