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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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Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- The University of Queensland
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Minerals Council of Australia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
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