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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, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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