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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- VISA Power Limited - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
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