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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Planning Commission, India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Australian Coal Association
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
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