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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, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
Economict Tmes reported that, Coal India, a leading PSU with a status of Navratna, today, invited Expression of Interest for selection of strategic ...
Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
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- SMC Global Power, Philippines
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
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