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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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Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
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Showing 5011 to 5015 news of total 6871 |
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- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
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