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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Economic Council, Georgia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- The University of Queensland
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
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