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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- PTC India Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Deloitte Consulting - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
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