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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, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
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