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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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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- MS Steel International - UAE
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
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