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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, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
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- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
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