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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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Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Planning Commission, India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
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