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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, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
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