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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Parliament of New Zealand
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