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Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
 The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elevated speculation in the steel futures market, says Fitch Ratings. Fitch expects supply of steel to increase as rising prices lead to capacity resumption, but without a sustainable rise in demand. This will put significant pressure on steel prices in the near term.
According to Fitch, the Chinese steel product prices have increased over 60% year to date. For instance, prices for hot-rolled steel - one of the most widely traded products - increased to CNY3,229 per tonne from CNY1,994 per tonne at the beginning of 2016. Fitch believes the price surge is mostly driven by a seasonal pick-up in fixed-asset investment activity from a low base in the first two months of 2016. This is exacerbated by increased speculation in the steel futures market, driven by liquidity in the financial system.
On the demand side, Fitch said, fixed-asset investment was up 10.7% yoy in 1Q16. Of this, infrastructure was up 19.6% and property 6.2%. Infrastructure investment growth was in line with Fitch's expectations and the usual spurt following the Chinese New Year holidays. However, the pick-up in property investment came earlier than expected. Fitch did not anticipate an increase until 2H16, from a low base in the previous year. Overall, Fitch does not foresee a strong increase in steel demand during 2016 and expects overall fixed-asset investment growth to remain at around 10%, a similar level to 2015.
On the supply side, Fitch commented that, average daily crude steel production was lower in January and February 2016, at around 2.02 million tonnes, compared to 2.21 million tonnes in 2015. Production fell significantly at the end of 2015 due to low steel prices. The total capacity suspended (capacity that is partially in operation or mostly non-operating) in 2015 amounted to around 60 million tonnes, of which only an estimated 15 million tonnes to 17 million tonnes was permanently shut-down and eliminated from the market. With prices now surging, many of the suspended plants have resumed production. This was partially reflected in March 2016 production figures, where daily crude steel production rose to 2.28 million tonnes, up 12.9% compared to January and February 2016.
Fitch expects production to increase further in April, as the suspended furnaces are fired up. This, together with weak demand growth for steel in 2016, is likely to soon result in declining steel prices.
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Thursday, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
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- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Videocon Industries ltd - India
- The University of Queensland
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Orica Mining Services - Indonesia
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