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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, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
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