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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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Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- The University of Queensland
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
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