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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, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
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