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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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Wednesday, 01 April 09
COAL FIRMS' PROFITS NOT EXPECTED TO GROW IN '09 - - THE JAKARTA POST (ANALYSTS)
Despite their windfall profits in 2008, analysts doubt that PT Bumi Resources Tbk or any other coal firms will post profit growth this year, with pr ...
Tuesday, 31 March 09
DEUTSCHE BANK TO ADD COAL, GAS, SHIPPING IN COMMODITY EXPANSION - BLOOMBERG
Deutsche Bank AG, after quadrupling revenue from commodities in two years, plans to add coal, European natural-gas and shipping to its business, ant ...
Monday, 30 March 09
CHINA SHENHUA SAYS AGREES DOMESTIC COAL DEALS - REUTERS
Chinese coal mining giant China Shenhua Energy Co has agreed long-term contracts with some Chinese power producers, its President Ling Wen said on M ...
Sunday, 29 March 09
SHENHUA ENERGY 2008 NET RISES 29% TO RECORD ON PRICES - BLOOMBERG
China Shenhua Energy Co Ltd., the nation’s biggest coal producer, said profit rose 29 percent to a record in 2008 after it increased productio ...
Friday, 27 March 09
SOUTH AFRICAN COAL EXPORTS EXPECTED TO RISE IN 2009, BUT RAIL WILL DETERMINE BY HOW MUCH - MININGWEEKLY
South Africa has an expanding coal-export terminal, but an uncertain rail capacity.
The mismatch is something South Africa cannot afford, given i ...
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- The University of Queensland
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Minerals Council of Australia
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