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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, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- The University of Queensland
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
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