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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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Saturday, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
...
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- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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