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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
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