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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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Monday, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
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