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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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Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
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