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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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- VISA Power Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
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