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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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Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
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