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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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Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
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- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- PTC India Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- The University of Queensland
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
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