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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, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
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