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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
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