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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, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Economic Council, Georgia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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