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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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Thursday, 12 March 09
ANALYSIS-FIRST NEW JAPAN COAL DEAL MAY NOT SET BENCHMARK - FOREXPROS.COM
* Informal coal-deal practice may come to an end this year
* Buyers expected to ask for a discount
* Biggest losers may be Chinese coal suppli ...
Thursday, 12 March 09
DEPARTMENT RECEIVES REPORT FROM GEOLOGICAL BODY AND NEDO - ESDM
The Geological Body of the Department of Energy and Mineral Resources have presented their Joint Study on Evaluation of Coal Resources and Reserves ...
Wednesday, 11 March 09
TENAGA SHARES CLIMB AS LOWER COAL PRICES CUT COSTS - BLOOMBERG
Bloomberg reported that, Tenaga Nasional Bhd., Malaysia’s state-controlled utility, climbed the most in a month in Kuala Lumpur trading as coal ...
Wednesday, 11 March 09
POSCO WINS 63% CUT IN PULVERIZED COAL PRICES, MACQUARIE SAYS - BLOOMBERG
Bloomberg reported that, Posco, Asia’s third-biggest steelmaker, has settled the first pulverized coal contracts for 2009 at $90 a metric ton ...
Wednesday, 11 March 09
COAL EXPORTERS FEEL THE CHILL FROM ASIAN DOWNTURN -BUSINESS.SMH.COM
Business.smh.com reproted that, The demand for thermal coal - NSW's most valuable export - has begun to reduce dramatically in response to the need ...
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- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Planning Commission, India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
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