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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
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