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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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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Indika Energy - Indonesia
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