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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Australian Coal Association
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
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