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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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Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
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