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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, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
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