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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, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- The University of Queensland
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Australian Coal Association
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
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