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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, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- The University of Queensland
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Planning Commission, India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
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