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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, 30 November 99
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Showing 6871 to 6871 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
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