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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Planning Commission, India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
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