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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, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- White Energy Company Limited
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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