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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Australian Coal Association
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
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