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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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