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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, 20 June 09
MINING LICENSE PROCEDURES `PROPER' - (UPDATE 3)
All 13 coal mining firms operating in Sawahlunto, West Sumatra, complied with procedures in obtaining their licenses, authorities say, as a recent m ...
Saturday, 20 June 09
TECK SEES 2009 COAL SALES AT UPPER-END OF FORECAST
* Sees 2009 coal sales at upper-end it of prior forecast
* Says increased Chinese demand, driving brighter outlook
Teck Resources Ltd said on Fr ...
Saturday, 20 June 09
COAL OUTLOOK DARKENS AS PRODUCERS LOOK FOR PRICING FLEXIBILITY
Russia’s coal output has dropped 17% in the first quarter of the year, with slowing demand and rising tariffs adding gloom to the outlook for ...
Saturday, 20 June 09
AUSTRALIA'S NEWCASTLE THERMAL COAL PRICES FALL 7.7% TO $70.81
Power station coal prices at Australia’s Newcastle port, a benchmark for Asia, fell 7.7 percent, declining for the first time since the week e ...
Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
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- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
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