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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- VISA Power Limited - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
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