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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, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
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