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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, 13 April 09
INDIA'S NTPC FOURTH-QUARTER PROFIT RISES 30% ON POWER OUTPUT - BLOOMBERG
NTPC Ltd., India’s biggest electricity generator, said profit rose 30 percent in the fourth quarter after higher efficiency helped production. ...
Thursday, 09 April 09
INDONESIAN CILACAP, FISHERMEN PROTEST COAL BARGES ANCHORING IN BAY - THE JAKARTA POST
Fishermen in Cilacap, Central Java, have protested against the presence of dozens of coal barges lying at anchor in Teluk Penyu Bay, claiming they a ...
Thursday, 09 April 09
INDONESIA'S PLN (STATE ELECTRICITY COMPANY) TO SET POWER PURCHASE PRICES FOR INDEPENDENT PRODUCERS - THE JAKARTA POST
State power company PT PLN holds the mandate to set power purchase prices to buy electricity produced by its (IPP) business partners, aiming at flex ...
Wednesday, 08 April 09
ARCELORMITTAL BUYS STAKE IN COAL OF AFRICA - MINEWEB
Steel maker, ArcelorMittal SA, has acquired a 16.3 percent stake in Coal of Africa Ltd. for $44.98 million in cash.
ArcelorMittal SA, the South A ...
Wednesday, 08 April 09
EXPORTS AT AUSTRALIA NEWCASTLE COAL PORT FALL ON STORM -MINING-JOURNAL
Coal exports from Australia's Newcastle port, the world's largest coal export terminal, fell roughly 18% last week to a 4½-month low, as ro ...
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- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
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