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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Planning Commission, India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
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