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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
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