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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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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
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