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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
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