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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
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