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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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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
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- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
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