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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, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Planning Commission, India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
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