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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- White Energy Company Limited
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
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