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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, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
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