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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, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Agrawal Coal Company - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
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