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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
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