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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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Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
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- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
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