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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- MS Steel International - UAE
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