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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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- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Posco Energy - South Korea
- London Commodity Brokers - England
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
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