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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
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