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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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Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- The University of Queensland
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- White Energy Company Limited
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