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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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Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Australian Coal Association
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
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