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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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Saturday, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
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