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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- PTC India Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- The Treasury - Australian Government
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
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