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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, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Economic Council, Georgia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
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