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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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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Xindia Steels Limited - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
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