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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
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Mjunction Services Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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