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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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Wednesday, 03 June 09
POWER DEMAND TO BOOST INDIA COAL IMPORTS DURING MONSOON - STEELGURU
Reuters quoted Indian coal importers said that strong demand for power in India is likely to keep coal imports at the maximum level possible in the ...
Wednesday, 03 June 09
NAPOCOR EXTENDS COAL TENDER FOR SOLE BIDDER - ABS CBNNEWS
National Power Corp. (Napocor), the top Philippine electricity producer, has given the lone bidder at a tender for 195,000 tons of coal more time to ...
Wednesday, 03 June 09
NEWCASTLE COAL EXPORTS JUMP 20 PERCENT; SHIP QUEUE LENGTHENS - BLOOMBERG
Coal exports from Australia’s Newcastle, the world’s biggest export harbor for the fuel, jumped 20 percent last week while the number of ...
Wednesday, 03 June 09
IPL-2 OVER, INDIAN COAL LEAGUE BEGINS IN SOUTH AFRICA - ECONOMICTIME
Steel, cement and power companies, which have traditionally relied on cheap Indonesian coal to fuel their factories, are rushing to buy South Africa ...
Wednesday, 03 June 09
BUILDING A ROAD TO LINK 3 GIANTS - THE JAKARTA GLOBE
Madhu Koneru is building a road to the future that will bring together the financial heft of the Middle East, the technological know-how of a rising ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
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