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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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Monday, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
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- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- White Energy Company Limited
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Australian Coal Association
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
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