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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- London Commodity Brokers - England
- VISA Power Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
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