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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, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
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