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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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- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- The University of Queensland
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
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