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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, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Planning Commission, India
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