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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, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
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