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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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Thursday, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
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- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
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