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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, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
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