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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Vedanta Resources Plc - India
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