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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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Indian Energy Exchange, India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
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