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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, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
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