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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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Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
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