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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, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
* KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's s ...
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- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- White Energy Company Limited
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- The University of Queensland
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
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