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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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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
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