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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, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
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- PTC India Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
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