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Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement from the Chinese market, as the country's economy has entered a controlled slowdown. The major issue though seems to be the current state of the Chinese steel industry, which has been for years, perhaps the biggest contributor to the dry bulk market's fortunes, as it remains not only the biggest worldwide, but also the single most important buyer of iron ore, the mineral which is transported through dry bulk vessels.
According to the latest weekly report from Intermodal, China has been sending out mixed signals. The shipbroker noted that Chinese steel producers will suffer even bigger losses” following a 1.9bn yuan ($299mil) loss last month due to falling prices according to recent statements of a senior official on the China Iron and Steel Association (CISA). Shanghai steel rebar futures hit a record low of 3,327RMB per ton, reflecting weakening demand from China by 24% in August alone. This brings the metal's price decline y-o-y to 36%, while expectations maintain their negative outlook. According to numerous reports, iron ore stocks are piling up all across Chinese ports as Chinese steel mills remain cautious and refuse to raise inventories during such turbulent times. This situation has further suppressed iron ore prices and confirmed the voiced concerns over the growth appetite of Chinese demand.
Intermodal's George Dermatis said that "Zhang Ping, minister in charge of the National Development and Reform Commission, recently said that the government will continue an active financial policy and prudent monetary policy for the rest of the year. Speculative demand and investment demand have been effectively suppressed due to government control policies –primarily targeted- on the real estate market. Chinese imports fell in August (2.6% y-o-y) while exports grew less (just 2.7%) than expected in the latest sign of weakness in the world’s second-largest economy. Weakening trade figures are a major and growing concern for China, where export-oriented industries employ an estimated 200m people and the economy is already expected to expand at its slowest rate in 13 years. The reasons for the slowdown whilst heavily justified by the financial crisis on a worldwide scale and the need for deflationary pressures on the Chinese internal economy are widely questioned by business circles. He added that " last Friday, China stocks posted the biggest single-day rally in almost eight months and recovered last month's losses in just one day after the country's top economic planner unveiled trillion-yuan stimulus plans to buoy the slowing economy. Whilst smaller than the 2008 580bn spending plan, rumours of money printing ahead (maybe false) and Draghi’s comments on ECB’s pivotal role in bond purchases have rocketed market confidence upwards. Machinery manufacturers and cement makers were the biggest beneficiaries of the government's stimulus plans targeted at railroads and highways, rising by the 10-percent daily limit. Metal and coal producers, steel companies and ship builders strengthened substantially as well. Most analysts believe Beijing must do more to stop the economic slide which may see the economy grow less than the 7.5% annual target set by the government at the start of the year. But can China beat expectations once again? Almost a month before elections, people and corporate entities are looking towards government policies to come to the rescue of their ailing industries/businesses".
According to Mr. Dermatis, China is able to beat expectations, based on its past positive track record. “Based on the efficiency of government policies which admittedly are the backbone of this "controlled" economy, we think that it is highly unlikely to miss targets despite indications to the contrary. We expect the government to take even more decisive steps in the months to come to put an end to mixed signals and give its people a clear direction for the years to come – especially after a new Premier and Chairman are in place. Hopefully this shift in political willpower will signal a –much needed- reaction to commodity and energy trades that could propel the shipping market out of its current trough. Fingers crossed” he concluded.
Source:Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Cement Manufacturers Association - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
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