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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, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
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