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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, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
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