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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
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