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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
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