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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Planning Commission, India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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