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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, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
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- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Australian Coal Association
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- The University of Queensland
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
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