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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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Friday, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
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- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Australian Coal Association
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
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