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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, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
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- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- MS Steel International - UAE
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
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