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