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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, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Australian Coal Association
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
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