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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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Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
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