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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, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Wilmar Investment Holdings
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
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