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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, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
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