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