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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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- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
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