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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
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