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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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Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
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- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Minerals Council of Australia
- New Zealand Coal & Carbon
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