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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
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