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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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