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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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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
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