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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, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
ENERGY and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
Thursday, 14 May 09
INDONESIA 2009 COAL OUTPUT REVISED DOWN - REUTERS
* Indonesia coal output seen at 240 million tonnes in 2009
* Coal exports down 11.2 pct to 44.79 mln tonnes in Q1 2009
* Production down 1.4 pct t ...
Thursday, 14 May 09
PAKISTAN WILL IMPORT 3.2 MILLION TON OF COAL IN 2009 - SEATRADE
COALspot.com (Pakistan) - SEATRADE Group of pakistan a single largest imported coal supplier in Pakistan, forecasting Pakistan steam coal imports wi ...
Wednesday, 13 May 09
ADARO, ITM EXPECT COAL GROWTH IN 2009
Adaro, which has a market capitalization of $3.64 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and ...
Wednesday, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
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- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
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