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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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Wednesday, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
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- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
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