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Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking stagnant and could get worse in the coming days. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) was marginally down by 0.05% to 1,885 points, shedding just one point. Still, activity in the Capesize market was low, leading the Baltic Capesize Index down by 1.37% to 3,021 points. Capesizes are typically used to haul coal and iron ore into China. Surprisingly, all other shipping segments were higher yesterday, with the Panamax market leading the foray as the BPI rose by 1.66% to 1,771 points.
According to the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS), “a slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points. The Capes saw the greatest movement, sliding -6%, while the BPI fell 5%. The BSI was steady with a rise of 1.4%. However good cargo flow in the Atlantic pushed the Handysize index up 7.7% to reach 740 points. At $10,850, the Handy time charter average finished the week at its highest level since mid-June. In Russia, the government announced ambitious plans to spend nearly $600m on its grain ports, in order to increase capacity by as much as 67% over the next four years. The new investment is forecast to lift grain loading capacity to almost 42 million metric tons from 25 million tons this year. Spending would be focused on developing and adding terminals on the Baltic, Asov and Black Seas. One rail carrier estimated the improvements could increase the discount at which Russia can sell grain at international tender by $7 to $8 per ton” said BRS.
Commenting on the Capesize market it mentioned that “declines that had perhaps been expected the previous week finally appeared this week, and the BCI lost 6% to finish at 3,136 points. The 4TC fell back to $26,601. In both runs this month, rates have risen to just under $29,000 before quickly retreating. A reduction in cargo movements was notable this week however, particularly towards end week as China began its holidays. With this in mind, we are unlikely to see any major improvements in the coming week. It was a volatile week in the FFA market, but the overall trend was also down with October and Q4 contracts both losing around $1400 w-o-w. Period rates have not softened much however, and short-period was fixing at around $19,000 per day, while two 206,000 tonners (ex yard February 2012) were reported fixed for between 44-50 months at $18,000 per day less 5% commission. As expected, the BCI fell again at the start of this current week” said the shipbroker in its report.
As far as the Panamax market is concerned, “both the Atlantic and Pacific basins became tighter last week. The Indian Ocean market become stronger too with fresh cargoes released after monsoon. In the Atlantic, available open tonnage dropped significantly over the last week and the TA round voyage reached almost $15,000. On a voyage basis, USEC to Continent was in the $15.50 pmt range while USG to Continent was in the low $20s pmt with a bullish outlook. Some charterers struggled to find the right candidates for trip from US Gulf/US east Coast to Continent. Ballasters expected from the east have not yet reached the area so open vessels in the zone have dropped by 60% in 15 days. Fronthaul rates remained relatively flat in the $22,500/$22,700 range. In the Pacific, open tonnage became tighter as well and dropped by 35% in 15 days. Rates seemed to have found a floor and hold relatively well, helped by the ballasters mentioned before. The Nopac round was around $10,500. Oversupply was absorbed by fresh cargoes put into the market by Chinese players before they went on holiday, which is a good reason to say that this week should be quiet” mentioned BRS.
In a separate notice issued yesterday, Commodore Research & Consultancy commented on the fact that Chinese steel output has come under pressure as it anticipated. “The China Iron and Steel Association (CISA) recently reported that daily crude steel output averaged 1.919 million tons from September 11 to September 21. This is a moderate decrease from the 1.964mt daily output average that occurred during September 1 to September 10. On a 30-day basis, the 1.919mt daily output average would yield 57.57mt of steel while the 1.964mt daily output average would yield 58.92mt. We have been predicting that Chinese steel output would come under pressure due to a recent stagnation in steel prices and increase in steel stockpiles. Chinese steel prices have come under a moderate amount of pressure since the end of August. The average price of 3.0mm hot rolled coil is now 4,760 yuan/ton, 190 yuan (-4%) less than a month ago. Chinese steel stockpiles have increased for five straight weeks and currently stand at 14.4mt. At the end of August, stockpiles stood at 13.6mt. The stagnation in steel prices and increase in steel stockpiles has been an indication that the recent level of Chinese steel output had been exceeding demand.
Going forward, Chinese steel output is likely to come under a bit more pressure during the next few weeks. Although output has declined, it is important to recognize that Chinese steel output is still relatively high and in no way is the Chinese steel industry undergoing a major correction. Instead, steel output is only coming under a small amount of pressure, which has been necessary in order to draw down stockpiles and allow prices to find support. If Chinese crude steel output ends up totaling 57mt in October, this would still be 6.7mt (13%) more than was produced in October 2010” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years
Utilities globally started changing the way they do business ye ...
Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
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- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
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