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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, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
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