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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, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
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- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
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