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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, 23 June 09
NAPOCOR TO RE-TENDER FOR 195,000 T COAL IN JULY
Electricity producer National Power Corp. (Napocor) will hold a tender on July 15 to buy 195,000 tons of steam coal for its Sual power station, the ...
Monday, 22 June 09
ONE DIES IN KUTAI COAL TUNNEL COLLAPSE
The Jakarta Post reported that, A tunnel at a coal mine belonging to company PT Fajar Bumi Sakti in Kutai Kartanegara, East Kalimantan collapsed on ...
Monday, 22 June 09
THIS WEEK IS EXPECTED TO BE FIRM AND DEMAND OF SHIPS WOULD BE STRONG - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI up by 487 points over last week which is an increase of almost 13 pct. The increase is again mainly due to Ca ...
Monday, 22 June 09
CHINESE MAY COAL IMPORTS HIT RECORD 9.43 MILLION TONNES
Reuters quoted Custom Data showed that China's coal imports hit an all-time record of 9.43 million tonnes in May.
The figure surpasses the previ ...
Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first dro ...
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- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
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