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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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Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
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