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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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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
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