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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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Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
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