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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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Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- White Energy Company Limited
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
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