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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, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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Showing 5751 to 5755 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- VISA Power Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
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