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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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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- The University of Queensland
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
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