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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Planning Commission, India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
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