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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Bhatia International Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- The University of Queensland
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
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