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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
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