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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
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