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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Singapore Mercantile Exchange
- Planning Commission, India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Australian Coal Association
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
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