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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 ($686), 320 yuan (-7%) less than a week ago. This marks the sixth consecutive week that Chinese steel prices have decreased. Last week’s decline was the largest week-on-week decline since October 2009. In addition to the ongoing decline in Chinese steel prices, Chinese steel stockpiles have continued to increase. Stockpiles of Chinese flat and construction steel products currently total approximately 15.1 million tons, 200,000 tons (2%) more than was
stocked a week ago and 1.3mt (9%) more than was stocked at the start of September. Going forward, Chinese steel production appears likely come under additional pressure during at least the next few weeks. Stockpiles need to be drawn down before a rebound in production can occur” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
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