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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 ($686), 320 yuan (-7%) less than a week ago. This marks the sixth consecutive week that Chinese steel prices have decreased. Last week’s decline was the largest week-on-week decline since October 2009. In addition to the ongoing decline in Chinese steel prices, Chinese steel stockpiles have continued to increase. Stockpiles of Chinese flat and construction steel products currently total approximately 15.1 million tons, 200,000 tons (2%) more than was
stocked a week ago and 1.3mt (9%) more than was stocked at the start of September. Going forward, Chinese steel production appears likely come under additional pressure during at least the next few weeks. Stockpiles need to be drawn down before a rebound in production can occur” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
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