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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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Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
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- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Australian Coal Association
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
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