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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
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