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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Australian Coal Association
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
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