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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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Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
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