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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- London Commodity Brokers - England
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- The University of Queensland
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
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