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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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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
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