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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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Monday, 08 June 09
PRIVATE COAL MINERS LIKELY TO LAND COMMERCIAL LICENSE - ECONOMIC TIMES
Economic Times of India reported that, The government may allow commercial coal mining by private companies as it looks to plug the demand-supply ga ...
Monday, 08 June 09
SAN MIGUEL EYES LOCAL MINING VENTURES - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, Diversifying conglomerate San Miguel Corp.is making big plans for Philippine mining, seen as an industry th ...
Monday, 08 June 09
NAPOCOR BUYING COAL FOR PAGBILAO PLANT - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, State-run National Power Corp. plans to buy 390,000 metric tons of steaming coal next month, to supply the ...
Sunday, 07 June 09
SEMIRARA SELLING COAL TO THAILAND - STEELGURU
Business Mirror reported that coal producer Semirara Mining Corporation has successfully entered the Thailand market during the Q1 of the year, help ...
Saturday, 06 June 09
IS THE RECESSION OVER ? - CAPT. REDDY, VISTAAR SHIPPING
COALspot.com (Singapore): Is the recession over, that is what most analysts think and seems so from the Baltic Index rally and firm commodity ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- McConnell Dowell - Australia
- White Energy Company Limited
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- PTC India Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
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