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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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Friday, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
Thursday, 18 June 09
GERMAN COAL BUYERS SEE LOWER IMPORTS, PRICES
* Coal imports and prices fall as steel industry slumps
* Coal industry grapples with carbon polluter image
German imports of hard coal are like ...
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- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Economic Council, Georgia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Australian Coal Association
- London Commodity Brokers - England
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