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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, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Australian Coal Association
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- VISA Power Limited - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
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