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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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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Economic Council, Georgia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
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