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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Parliament of New Zealand
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
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