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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, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
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