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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, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
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