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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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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- The University of Queensland
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
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