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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, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
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