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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, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Economic Council, Georgia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
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