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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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Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Australian Coal Association
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
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