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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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Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- PTC India Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Planning Commission, India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
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