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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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
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