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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, 13 February 09
INDONESIA IS EXPECTED TO PRODUCE 225 MILLION TONES OF COAL IN 2009 - ENERGY MINISTRY
Indonesia, the world's top thermal coal exporter, will allocate 68.3 million tonnes of coal out of expected forecast production of 225 million ton ...
Friday, 06 February 09
INDONESIA'S COAL PORTS HAVE FORCED A RETHINK ON 'TRADITIONAL' HANDLING OPTIONS
Port Strategy reported that, Indonesia’s main coal-producing islands of Kalimantan, Sulawesi and Sumatra suffer from a scarcity of suitable la ...
Thursday, 22 January 09
MINISTER: MINING LAW PROHIBITS RAW MATERIAL EXPORT - ESDM
The Coal and Mining Law, approved during the House of Representatives plenary meeting on December 16, 2008 seeks to domestically increase mining com ...
Wednesday, 07 January 09
SOUTH KALIMANTAN COAL PRODUCTION EXPECTED TO INCREASE - ESDM
Coal production from the South Kalimantan region has the potential to increase in the next few years. Aside from the vast proven reserves of coal, s ...
Tuesday, 30 November 99
GLENCORE EXPECTS 2023 TRADING UNIT PROFITS OF UP TO $4 BLN - REUTERS
Glencore GLEN.L on Friday said it expects profits at its trading division this year of up to $4 billion, exceeding its long-term annual guidance.
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- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- The University of Queensland
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
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