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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, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- The University of Queensland
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
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