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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, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
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- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
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