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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
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