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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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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
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