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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- The University of Queensland
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
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