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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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Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
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