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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, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boos ...
Tuesday, 12 May 09
COAL IN PLACE, GMR PLANS 2,000-MW THERMAL PLANT - BUSINESS-STANDARD
GMR ENERGY, a subsidiary of Bangalore-based infrastructure company GMR Infrastructure Ltd, is planning to set up a 2,000-Mw thermal power plant near ...
Monday, 11 May 09
SOUTH AFRICA PROBLEMS SLOW INDIA COAL BUYING - MINE WEB
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
Indian coal buyers were a ...
Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic ac ...
Saturday, 09 May 09
CHINA PLANS TO BUILD COAL STOCKPILE BASES IN SHANDONG - BLOOMBERG
China, the world’s largest coal producer and consumer, plans to build stockpiles of the fuel in the eastern province of Shandong to ensure sup ...
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- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
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