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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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Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
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- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- The University of Queensland
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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