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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, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
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