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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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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- White Energy Company Limited
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- VISA Power Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
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