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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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Sunday, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...
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- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
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