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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, 23 July 09
COAL IMPORTS SURGE; EXPORTS DOWN IN H1
China Trade Information reported that, China’s coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 mill ...
Thursday, 23 July 09
SRI LANKA CALLS FOR COAL SUPPLY BIDS
Daily Mirro reported that, In a move to install the country’s first coal power plant, Sri Lanka has invited bids to supply 2.4 million metric ...
Thursday, 23 July 09
POWER INVESTORS TURN BACKS ON VIETNAMESE COAL IMPORTERS
VietNamNet Bridge reported that, Investors of power plants always seek foreign coal sources to import themselves, believing they can come by it chea ...
Wednesday, 22 July 09
BERAU COAL DRAWS LOCAL, CHINESE BIDS - SOURCES
* Indonesian coal firm draws local, Chinese bids-sources
* Deal could value Berau at more than $1 billion-sources
Reuters reported that, China' ...
Wednesday, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
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- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
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