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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
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- The University of Queensland
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
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