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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, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Planning Commission, India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
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