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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- PTC India Limited - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
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