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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, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
Wednesday, 14 October 20
MARKET INSIGHT - INTERMODAL
The tanker market has experienced severe freight rate and asset value declines over the past 5 months. A potential market upturn may arise in the c ...
Friday, 09 October 20
INDIA'S COAL IMPORTS IMPROVE SOMEWHAT, BUT RECOVERY IS UNEVEN - REUTERS
India’s coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick – shipmen ...
Thursday, 08 October 20
CHINA'S COAL IMPORTS FROM INDONESIA DECLINED 16.4% Y-O-Y, TO 80.2 MLN TONNES IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
China's coal imports boomed in 2019, surprising many who had expected the government would clamp down strictly on shipments.
...
Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal p ...
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- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Economic Council, Georgia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Parliament of New Zealand
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
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