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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
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