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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
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