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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, 16 March 09
COAL MINER BUKIT ASAM RECORDS 135% GAIN IN NET PROFIT FOR 2008 - THE JAKARTA GLOBE
Indonesia's state-owned coal miner PT Tambang Batubara Bukit Asam Tbk said its net profit jumped 135 percent last year, having sold more coal at hi ...
Saturday, 14 March 09
NATIONAL ALUMINIUM TO IMPORT COAL NEXT MONTH TO EASE SHORTAGE - BLOOMBERG
Bloomberg reported that, National Aluminium Co., India’s biggest alumina maker, plans to import as much as 150,000 metric tons of coal next mo ...
Friday, 13 March 09
VIETNAM APPROVES TWO COAL-FIRED POWER PLANTS TO MEET DEMAND -THANHNIENNEWS
Thanhnien News reported that, The government has approved a proposal to build two 2,400-megawatt coal-fired power plants in the provinces of Nam Din ...
Friday, 13 March 09
INDONESIAN STATE-RUN COMPANIES PROFIT MAY FALL 10% THIS YEAR -THANHNIENNEWS
Tanhnien news reported that, Indonesian state-run companies’ profits may fall about 10 percent this year as commodity prices decline, cutting ...
Thursday, 12 March 09
INDONESIA'S CIREBON ELEC IN TALKS ON COAL SUPPLIES - REUTERS
Reuters reported that, Indonesia's PT Cirebon Electric Power, an independent power producer, is in talks with a number of coal suppliers to seek a ...
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- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Central Electricity Authority - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- The University of Queensland
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
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