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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, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - 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 - ...
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- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
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