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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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Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
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