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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, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Central Java Power - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
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