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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, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
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