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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, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Parliament of New Zealand
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
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