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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, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
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