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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- White Energy Company Limited
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
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