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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, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- MS Steel International - UAE
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