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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
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