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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, 21 April 09
INDONESIAN GOVT TO ALLOW UNDERGROUND MINING IN PROTECTED FORESTS - THE JAKARTA POST
The government will issue a regulation allowing mining companies to carry out underground mining in protected forests.
"This regulation will ...
Tuesday, 21 April 09
INDONESIAN GOVT LIKELY TO MISS INVESTMENT TARGETS FOR ENERGY, MINING - THE JAKARTA POST
The total value of investments in energy and mining sectors by the end of the year is likely to be below the government’s target, as a result of ...
Monday, 20 April 09
INDONESIAN COAL MINING ASSOCIATION CALLED TO CONTROL MINERS - MAJALA TAMBANG
The Indonesian Coal Mining Association (ICMA) is called to expand its membership further in view of controlling the conduct of miners in the nationa ...
Monday, 20 April 09
BANPU PLANS TO SHIP 2 MLN T COAL TO CHINA IN 09 - REUTERS
Banpu, Thailand's largest coal miner, plans to increase coal shipments to China by about 30 percent to 2 million tonnes in 2009, company officials ...
Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
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- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
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