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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, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Deloitte Consulting - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- PTC India Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
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