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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, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
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