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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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Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Planning Commission, India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
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