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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, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Australian Coal Association
- Planning Commission, India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
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