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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, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
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