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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, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- The University of Queensland
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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