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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Planning Commission, India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
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