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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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Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
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- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Australian Coal Association
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
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