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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, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
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