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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, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Australian Coal Association
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- The University of Queensland
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
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