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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, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
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