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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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Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
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- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
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