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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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Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
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