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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, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
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