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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, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
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