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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first post-holiday session, led by an “explosion” of the Panamax segment of the market. The relative Panamax index rose by a rather impressive 7.45 percent to 1,558 points, after several days of lacklustre activity. The Capesize market was also higher, albeit at a more modest rate, rising by 0.51% to end at 1,572 points.
According to the latest report from Barry Rogliano Salles, the rise in Panamax rates (5% during the previous week for a total of 12,45% including Tuesday’s increase) represents the first positive development in some time after almost seven weeks of consecutive declines. Even with the small gain seen this week, the Panamax 4TC has lost 70% of its value since early March. “Of course, coal shipments have been severely disrupted by weather related factors, and this week China reported a 25% decline in its coal imports over the first three months of 2011. This stands in sharp contrast to its iron ore imports which rose nearly 10% in the same period” said the Paris-based shipbroker.
Further detailing the Panamax market, it said that it saw very quiet conditions in both the Atlantic and Pacific this week, mainly due to the long weekend in the East. There was plenty of tonnage still available in both basins and the time charter rates barely managing to break into four digits for the Atlantic and Pacific round voyages. Fronthauls were being fixed in the low US$20,000s. Period activity also declined, with rates still in the low teens for short periods of 3-5 or 4-6 months.
Regarding the Capesize market, “holidays in Europe reduced activity in the Atlantic, although a period of fixing by the mining groups in the Pacific kept activity ticking over there. Overall the BCI inched up 1% while the time charter average closed the week at just under US$6,700. With worldwide steel production continuing to rise (up 7% in March), demand for iron ore remains strong. However with an average 27 ships joining the fleet each month, supply continues to outpace demand. In the paper market, rates picked up across the board and short-term prices strengthened. Prices are now US$10,700 and US$11,160 for June and July respectively” said the report.
As for the smaller segments (Handy, Supramax), the Handy market continued to slide down, and the TC average closed the week at US$11,897 compared to US$11,985 the week before. Supras remained steady and finished the week at US$14,530 led by the route USG/skaw –Passero. East coast South America remains the leading actor in the Atlantic with wheat and sugar traded to various destinations. A few fixtures have been done from USG to Cont/Med at around US$17,000 for Handies and US$24,000 for the Supras. The Mediterranean/Black Sea market remained lacking in action. In the east, rates continued to slids down for both Handies and Supras. Supras were fixed from Indonesia to China at around US$17,000 with mainly coal, and around US$14,000 from India to China. A few Supras have been taken for 4-6 months at around US$15,000 delivery India.
In a separate analysis, Commodore Research mentioned yesterday that despite the various electricity consumption restrictions on a series of industries in China, steel mills have been left largely unaffected. “This has allowed Chinese steel production to remain at extremely robust levels.
Steel production came under pressure last September due to government-mandated electricity allocation restrictions on steel mills and other heavy polluting nterprises; these specific restrictions were lifted by the end of last year. Chinese steel production has flourished in recent months, with last month's 59.4 million tons of crude steel production the second largest amount of crude steel ever produced in China. It is becoming likely that the government will have to place electricity allocation restrictions on steel mills (and other energy-intensive enterprises) in the near future however.
As we discussed last week, Chinese electricity consumption has surged to a near-record level much earlier than in previous years. Chinese electricity production totaled about 383 billion kilowatt hours in March, an increase of 46 billion kwh (14%) from 337 billion kwh produced in March 2010 and only slightly lower than the record 390 billion kwh produced in August 2010. Within a few months, electricity consumption is likely to exceed August 2010's record, as warmer weather will lead to a continued surge in electricity demand.
The Chinese government’s priority is having residential users receive normal allocations of electricity rather than focusing more on industrial users. In a nation where citizens are unable to vote (and, for most part, largely satisfied with this), it’s extremely important that the necessities and luxuries afforded to citizens are not taken away.
Because of this, China’s National Energy Administration (NEA) has banned restricting electricity allocation to residential users. The NEA anticipates that year-on-year electricity consumption will increase by over 10% this year, which will very likely put steel mills and other energy-intensive enterprises in the crosshairs of summer electricity allocation restrictions.
In the first four months of this year, Chinese steel production has remained at extremely high levels on the strength of robust domestic demand. Steel consumption has remained high, construction steel stockpiles have declined, and domestic and foreign iron ore demand has remained robust. Going forward, there is a considerable chance that steel mills will receive reduced electricity allocations due to Chinese electricity production in the summer simply being unable to come close to meeting demand. This would result in a decline in steel production and lower iron ore demand. As of now, though, Chinese steel production remains very robust” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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Showing 5261 to 5265 news of total 6871 |
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- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Australian Coal Association
- PTC India Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Videocon Industries ltd - India
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