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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
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