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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
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