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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Australian Coal Association
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
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