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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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Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
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