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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, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
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