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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
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
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