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Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exactly where it was at the end of the previous week. The general trend was for added Capesize demand, with the relative BCI (Baltic Capesize Index) rising further to 3,597 points, or by 0.87% on the day. All other segments were down, with Panamaxes losing 1.33%.
In its weekly analysis of the dry bulk market, Paris-based shipbroker Barry Rogliano Salles (BRS) said that the market seems to be at a crossroad once more. “The indices last week remained fairly stable (except for the Panamax sector), ending the week as follows: the BDI at 2,153 points (-0.9%), the BCI at 3,566 (-0.6%), the BPI at 2,026 (-2.8%), the BSI at 1,607 (+0.8%) and the BHI at 826 points (+0.5%). Falling iron ore prices continued to prompt discussion, as Chinese steel prices also fell to a 10-month low last week in response to moderating construction demand. Recent steel prices have prompted some Chinese producers to cut output or bring forward maintenance. 62% fine CFR Tianjin finished the week at $142.6 per tonne. The cash price of ore has not traded at less than $140 per ton since September 2010” said BRS.
Reffering to the Capesize market, the shipbroker said that “despite the Coaltrans conference in Madrid, and the near one-year high achieved by Capesize rates the previous week, there was no major correction in the market. Overall the BCI came off just 0.6%, while the four time charter average only budged $324 to finish at $30,975. Regionally, Tubarao-Qingdao rates actually rose, and a mid November cargo was reported at $30 per tonne, with plenty of activity in both basins in the second half of the week. Paper rates meanwhile saw significant gains over the week, suggesting confidence for the short term is there. November and Q4 contracts recorded gains of 12.6% and 9.8% respectively w-o-w. Monday saw more positive signs, with the 4TC rising $437, compensating for the losses of the previous week” it said.
As for the Panamax market, reportedly it was strong last with ‘high’ rates seen until midweek.
“The end of the week was relatively quiet, and it was the same for the start of the new week. Both TA and Pacific RV kept improving and respectively reached $18-$18,300 and $15,600-$15,800 on Wednesday, with fronthaul rates reaching up to $26,500/day. That said, the market marked a pause with tonnage building up in the Atlantic and Pacific. Fronthaul was reported in the $25,500 region and TA was hovering in the $17,800-$18,000 area. The market now appears to be topping out. The only market which remained tight the whole week was the Indian market with very little tonnage available for WCI to China trip. We are now expecting a drop in rates as a fair number of ballasters from the East could hit the Atlantic market very soon, so a weak second half of November is predicted, with many players strongly bearish” concluded BRS, in its report.
Meanwhile, in a note from Commodore Research & Consultancy, ship owners were warned of the fact that Chinese iron ore demand will continue to come under sporadic pressure. “Only 11 vessels were chartered to ship iron ore to China last week, 17 less than the previous week and 12 less than the trailing four week average”. The reasons are that “Chinese steel prices came under sharp pressure last week, which indicates a continued decline in domestic demand. The average price of 3.0mm hot rolled coil in China is now 4,380 yuan/ton ($686), 320 yuan (-7%) less than a week ago. This marks the sixth consecutive week that Chinese steel prices have decreased. Last week’s decline was the largest week-on-week decline since October 2009. In addition to the ongoing decline in Chinese steel prices, Chinese steel stockpiles have continued to increase. Stockpiles of Chinese flat and construction steel products currently total approximately 15.1 million tons, 200,000 tons (2%) more than was
stocked a week ago and 1.3mt (9%) more than was stocked at the start of September. Going forward, Chinese steel production appears likely come under additional pressure during at least the next few weeks. Stockpiles need to be drawn down before a rebound in production can occur” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Attock Cement Pakistan Limited
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
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