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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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Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- The University of Queensland
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
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