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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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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Australian Coal Association
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
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