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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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Saturday, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
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