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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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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
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- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Australian Coal Association
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Aditya Birla Group - India
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