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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- The University of Queensland
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
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