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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
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- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- The University of Queensland
- Formosa Plastics Group - Taiwan
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