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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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Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
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