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