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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, 25 March 09
MINISTER ASKS ROYALTIES BE PAID IN COAL, NOT CURRENCY - THE JAKARTA POST
Coal companies could pay their royalties to the government in coal, rather than in rupiah, under a proposal made by Energy and Mineral Resources Min ...
Wednesday, 25 March 09
INDONESIA'S STATE ELECTRICITY COMPANY DEMAND FOR COAL TO SOAR NEXT YEAR AS POWER OUTPUT RISES - THE JAKARTA POST
State electricity company PT PLN will need more coal next year as it seeks to generate more power through new plants operated by its subsidiary PT I ...
Tuesday, 24 March 09
INDONESIA'S KPC AGREES FIRST MAJOR CHINA COAL DEAL - REUTERS
Indonesian miner PT Kaltim Prima Coal last week agreed its first major long-term deal to sell thermal coal to China, with 1 million tonnes to be shi ...
Tuesday, 24 March 09
INDONESIA ANTAM'S SETS ASIDE $37 MLN FOR COAL MINES - REUTERS
Indonesian state-owned miner, PT Aneka Tambang Tbk, has allocated $37 million for acquiring coal mines, the company said on Monday.
Antam said la ...
Monday, 23 March 09
NIPPON STEEL, BMA AGREE TO 57 PCT CUT IN COAL PRICE - REUTERS
Nippon Steel Corp has agreed with Australia's BHP Billiton Mitsubishi Alliance (BMA) to pay $128 to $129 per tonne for coking coal in the year from ...
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- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
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