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Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
 The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BDI), inching closer and closer to the 4,000 point mark. On Friday, the BDI ended at 3,939, up by 15, capping the week with a nearly 9% gain overall, although the capesize segment showed some modest signs of fatigue by the end. Throughout the week, all of the indices were well up, as the market is showing its strength.
In its latest weekly report, Weberseas noted that “with it came stronger period activity across all areas. Whilst the newebuilding supply of ships continues, it seems that demand factors are very strong. Port congestion around the world continues to take ships off the market (at Newcastle, Australia alone there are some 33 vessels queuing off the port waiting to load 2.87 million tonnes of coal).
At the same time the world economy appears to be recovering at a steady rate with U.S. consumption (the driving force of global growth before the crisis) having gained significant momentum. Another good factor for dry bulk growth is the fact that the demand for non-oil commodities has grown at a remarkable pace in April. According to the World Bank non energy commodity price index increased by 9.6% in April alone, up from 1.7% in March!!! The index was supported by iron ore, agriculture and precious metals, while some industrial metals saw minor losses” said Weberseas.
But the shipping community is closely monitoring developments in China, which still plays a key role for the market. According to a latest note by Commodore Research & Consultancy, “Chinese steel production continues to set new records, and yet fears of an economic slowdown persist. China produced 55.4 million tons of crude steel in April, an increase of 430,000 tons (1%) from the previous monthly record of 54.97mt produced in March. Despite the ongoing robustness in Chinese steel production, many market observers have begun to sound the alarm that China’s economy is slowing down. These pundits are correct to be concerned over government policies aimed at restricting bank lending, slowing real estate prices, and slowing car purchases - but Chinese steel output has yet to decline.
Firming steel stockpiles may be signaling that Chinese steel production is set to slow however. Stockpiles of Chinese flat and construction steel products now total about 15.55 million tons, an increase of 150,000 tons (1%) from the end of last week. Prior to this decline, however, steel stockpiles had declined for seven consecutive weeks, and are still down significantly from a record 18.58mt stockpiled in the beginning of March. So far, robust steel production looks poised to continue but steel stockpiles must still be monitored. A rise in Chinese steel prices has also begun to level off, although prices are still much higher than they were a year ago” said the report. Still, a robust amount of iron ore and coal imports continue to be fixed in the dry bulk shipping market.
According to a report by Shanghai Daily, citing government reports, China’s economy is expected to grow 10.7 percent annually in the second quarter, slowing from the surge of 11.9 percent in the first three months of this year. This slowing down of the pace is attributed to a smaller rise in investment, according to the latest report by the State Information Center, a unit under the National Development and Reform Commission, the country's top economic planner.
"China has recovered solidly from the global financial crisis. The first-quarter gross domestic product climbed to a record 11.9 percent but it is mainly due to a low comparative base last year," the report said. "Excluding the low-base effect, the growth is still within a range of reasonable expansion, and the economy is not overheated as some analysts claimed." Investment, however, will expand at a slower pace after China tightened credit to avoid economic overheating and curb a possible asset bubble. Urban fixed-asset investment is expected to gain 24.5 percent in the second quarter, lower than a rise of 25.6 percent between January and March. Exports, badly hit by the global financial crisis, may climb 25 percent in the second quarter. Imports are seen to surge 35 percent.
Commodore’s outlook on China’s economy suggested that it is very possible to see a moderate slowdown in the medium term (six to nine months), but into the summer, demand trends look poised to remain robust.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
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