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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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Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Parliament of New Zealand
- London Commodity Brokers - England
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
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