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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, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
Wednesday, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
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- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
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