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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, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- PTC India Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
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