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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, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
Saturday, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
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- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- The University of Queensland
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
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