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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, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
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- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- PTC India Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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