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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, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
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