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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Australian Coal Association
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
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