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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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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Planning Commission, India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
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