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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, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- The University of Queensland
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Planning Commission, India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
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