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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, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
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