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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, 16 June 09
INDIAN MINING WORKER ARRESTED IN BENGKULU
Forestry officials in Bengkulu Province, Sumatra, arrested one Indian national and two Indonesians on Sunday for unauthorized exploration in the ele ...
Tuesday, 16 June 09
INDIAN GOVERNMENT MAY ALLOW PRIVATE COMPANIES TO MINE COAL
The government is “strongly considering” to allow commercial coal mining by private companies in a bid to bridge the demand-supply gap, ...
Monday, 15 June 09
SAFRICA'S COAL TERMINAL EXPANSION DELAYED TO Q4
South Africa's Richards Bay Coal Terminal (RBCT) said on Monday the completion of a project to expand the export facility had been delayed to the f ...
Monday, 15 June 09
SHENHUA DENIES GIVING GROUND ON EXPORT COAL PRICE - REUTERS
China Shenhua Energy Co, the country's top coal producer, expects Japanese and South Korean clients to pay at least as much as Chinese customers fo ...
Monday, 15 June 09
POWER PLANT SUFFERS FROM COAL CRISIS - THE STATESMAN
The 3,000 mw NTPC-Kaniha power plant, the second biggest in the country, is facing an unprecedented coal crisis with stocks dipping to a low of only ...
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- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Aditya Birla Group - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
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