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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, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
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