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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Planning Commission, India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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