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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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Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Ministry of Transport, Egypt
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