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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, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Planning Commission, India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
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