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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, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Wilmar Investment Holdings
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
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