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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
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