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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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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
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- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
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