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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, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
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