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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A lot of this fall is stemming from the fall of steel prices in China, which is pushing steel mills’ margins to near break-even levels, which in turn are causing them to limit their iron ore purchases. Yesterday, the Baltic Dry Index (BDI), the industry’s benchmark, was down by 2.63% to 1,965 points. The biggest losses were obvious in the Capesize sector, with the Baltic Capesize Index (BCI) losing 4.34% to 3,132 points. Similarly, all other shipping segments were down, with Supramaxes retreating the most (after Capesizes) to 1,531 points, down by 0.91% on the day.
According to the latest weekly report of Paris-based shipbroker Barry Rogliano Salles, there were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the losses were more constrained: the BPI dropped -4.3% to 1,939, the BSI -4% to 1,545 and the BHSI -4.8% to finish at 786. “Speculation is now rife concerning the fall in the iron ore price and whether it signifies a longer term trend in China. Ore prices experienced the biggest ever 7-day fall last week, and prices for immediate delivery of benchmark iron ore into China fell to $120/ton on Friday, down from $181 on 7 September” said the report.
It went on to mention that “historically, demand for ore has softened in China in September and October, but has recovered in the build up to Christmas as the country faces the worst winter conditions. This year the slump has lasted longer than normal, with low steel prices and credit problems discouraging buyers. However the current spot price is close to the break-even production price for Chinese domestic producers, suggesting to many that the international price will not fall much below that. Though CISA says it believes the price will fall further, other sources say there is no change to the fundamentals and buyers are withholding purchases in order to see where the market shakes out” said BRS.
Referring to the Capesize segment, the shipbroker mentioned that “the correction expected the previous week was finally apparent this week, with low levels of activity especially in the Pacific forcing rates down. Overall the 4TC dropped 9%, falling to $28,214 — the first time it has slipped below the $30,000 mark since 19 October. The main driver was an absence of Australian shippers, with the Hedland-Qingdao route seeing the most severe decline. This led to tonnage ballasting to Brazil, but here too cargo volumes were thinner. In the paper market, there was a similar pattern with November contracts losing $5,000 by Friday w-o-w. Monday saw another $1,500 wiped off the 4TC, a trend which if it continues could signal bigger losses this week” it mentioned.
Meanwhile, during the past week, the Panamax market became quieter after the recent recovery. “A clear pause in rising rates was recorded but we did not see the market dropping. The Panamax market has not said its last word however, while everyone expects a drop in rates in the near future. Transatlantic rates held up quite well in the $17,500-18,000 range or $22/pmt for USG to Continent voyage on LME, but P1A lost $700 over the same period. The number of open vessels did not build up as quickly as expected, but today’s update clearly indicates tonnage is building up now. In the Pacific, rates remained flat with high numbers seen for North Pacific voyage. P3A posted a $650 loss ending at $13,875 but some high fixtures were reported for very specific trades. Indonesia to China traded in the $9.40-$9.60 range in a downward trend and WCI to China trip lost some ground after being hot the last 3 weeks during the “postmonsoon rally”. The period market remained relatively stable in the high $14,000s per day for 4-6 months, with short period the main period traded for obvious reasons” said BRS.
Finally, commenting on the Supramax/Handy markets, the shipbroker said that “after a few weeks of a rising BSI, the trend has reversed again. The BSI lost about 4%, while the average of the TC routes lost $649 from Friday to Friday to reach an average of $16,155. The market was dropping heavily in the Pacific and the Nopac round voyage lost $1,607 to reach $12,217 by the end of the week. In the Atlantic the rates were coming off as well but at a slower rate. The US Gulf remained strong, with Supras getting fixed to the Far East at about $34,000 while the same route was fixed in the $36,000 the week before. Out of West Africa, Supras were getting about $14,000 for a trip via ECSA with redelivery in the Med. The Continent remained strong due to a lack of tonnage, and a Supra was fixed $17,500 delivery Continent via Baltic to the Red Sea with redelivery Port Said. Supra rates in the Pacific have been sliding fast. Iron ore exports from India, especially from ECI have all dried up. To add to that, Chinese demand for iron ore as well as coal has subsided and the prices for these commodities are falling fast. The short term perspective looks gloomy and owners are trying to give out their tonnage on short period, with Supras aiming for around $14,000” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
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- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
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