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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, 05 August 09
PEOPLE'S MINING SHOULD BE REGULATED UNDER RPP MINERBA
The Indonesian Institute of Science (LIPI) has called on the government to include a specific provision for people’s mining in the draft govern ...
Tuesday, 04 August 09
SRI LANKA IS LOOKING FOR 650,000 TON OF COAL NEXT YEAR FOR ITS FIRST 900 MW POWER PLANT.
COALspot.com ( Sri Lanka) : Lanka Coal Company Limited was issued a tender on 23 July 2009 to purchase 650,000 +/- 20% MT Bituminous Coal per a ...
Monday, 03 August 09
ONE YEAR CHARTER RATES FOR SUPRAMAX WAS AT AROUND USD 18,500 - VISTAAR SINGAPORE
COALspot.com (Singapore) : The freight market was flat this week with hardly any change in the BDI.The cape was up by about 4 pct and closed at 5,38 ...
Saturday, 01 August 09
APGENCO SAYS BOUGHT 500,000T MALAYSIAN COAL
The Malaysian Insider reported that, Indian state utility Andhra Pradesh Power Generation Corporation Ltd (Apgenco) has bought 500,000 tonnes of Mal ...
Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
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- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Planning Commission, India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
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