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