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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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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
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