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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, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
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