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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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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
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