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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
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