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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
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