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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, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- The University of Queensland
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Marubeni Corporation - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
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