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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Australian Coal Association
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
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