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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, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
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