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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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Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Planning Commission, India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- White Energy Company Limited
- The University of Queensland
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
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