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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
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