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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- PTC India Limited - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
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