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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, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
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