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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- The University of Queensland
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
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