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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, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- The University of Queensland
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
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