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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, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
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