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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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Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Marubeni Corporation - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
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