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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
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