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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, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- The University of Queensland
- PTC India Limited - India
- Economic Council, Georgia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
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