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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, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
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- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Planning Commission, India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
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