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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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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
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