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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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Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
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