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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first post-holiday session, led by an “explosion” of the Panamax segment of the market. The relative Panamax index rose by a rather impressive 7.45 percent to 1,558 points, after several days of lacklustre activity. The Capesize market was also higher, albeit at a more modest rate, rising by 0.51% to end at 1,572 points.
According to the latest report from Barry Rogliano Salles, the rise in Panamax rates (5% during the previous week for a total of 12,45% including Tuesday’s increase) represents the first positive development in some time after almost seven weeks of consecutive declines. Even with the small gain seen this week, the Panamax 4TC has lost 70% of its value since early March. “Of course, coal shipments have been severely disrupted by weather related factors, and this week China reported a 25% decline in its coal imports over the first three months of 2011. This stands in sharp contrast to its iron ore imports which rose nearly 10% in the same period” said the Paris-based shipbroker.
Further detailing the Panamax market, it said that it saw very quiet conditions in both the Atlantic and Pacific this week, mainly due to the long weekend in the East. There was plenty of tonnage still available in both basins and the time charter rates barely managing to break into four digits for the Atlantic and Pacific round voyages. Fronthauls were being fixed in the low US$20,000s. Period activity also declined, with rates still in the low teens for short periods of 3-5 or 4-6 months.
Regarding the Capesize market, “holidays in Europe reduced activity in the Atlantic, although a period of fixing by the mining groups in the Pacific kept activity ticking over there. Overall the BCI inched up 1% while the time charter average closed the week at just under US$6,700. With worldwide steel production continuing to rise (up 7% in March), demand for iron ore remains strong. However with an average 27 ships joining the fleet each month, supply continues to outpace demand. In the paper market, rates picked up across the board and short-term prices strengthened. Prices are now US$10,700 and US$11,160 for June and July respectively” said the report.
As for the smaller segments (Handy, Supramax), the Handy market continued to slide down, and the TC average closed the week at US$11,897 compared to US$11,985 the week before. Supras remained steady and finished the week at US$14,530 led by the route USG/skaw –Passero. East coast South America remains the leading actor in the Atlantic with wheat and sugar traded to various destinations. A few fixtures have been done from USG to Cont/Med at around US$17,000 for Handies and US$24,000 for the Supras. The Mediterranean/Black Sea market remained lacking in action. In the east, rates continued to slids down for both Handies and Supras. Supras were fixed from Indonesia to China at around US$17,000 with mainly coal, and around US$14,000 from India to China. A few Supras have been taken for 4-6 months at around US$15,000 delivery India.
In a separate analysis, Commodore Research mentioned yesterday that despite the various electricity consumption restrictions on a series of industries in China, steel mills have been left largely unaffected. “This has allowed Chinese steel production to remain at extremely robust levels.
Steel production came under pressure last September due to government-mandated electricity allocation restrictions on steel mills and other heavy polluting nterprises; these specific restrictions were lifted by the end of last year. Chinese steel production has flourished in recent months, with last month's 59.4 million tons of crude steel production the second largest amount of crude steel ever produced in China. It is becoming likely that the government will have to place electricity allocation restrictions on steel mills (and other energy-intensive enterprises) in the near future however.
As we discussed last week, Chinese electricity consumption has surged to a near-record level much earlier than in previous years. Chinese electricity production totaled about 383 billion kilowatt hours in March, an increase of 46 billion kwh (14%) from 337 billion kwh produced in March 2010 and only slightly lower than the record 390 billion kwh produced in August 2010. Within a few months, electricity consumption is likely to exceed August 2010's record, as warmer weather will lead to a continued surge in electricity demand.
The Chinese government’s priority is having residential users receive normal allocations of electricity rather than focusing more on industrial users. In a nation where citizens are unable to vote (and, for most part, largely satisfied with this), it’s extremely important that the necessities and luxuries afforded to citizens are not taken away.
Because of this, China’s National Energy Administration (NEA) has banned restricting electricity allocation to residential users. The NEA anticipates that year-on-year electricity consumption will increase by over 10% this year, which will very likely put steel mills and other energy-intensive enterprises in the crosshairs of summer electricity allocation restrictions.
In the first four months of this year, Chinese steel production has remained at extremely high levels on the strength of robust domestic demand. Steel consumption has remained high, construction steel stockpiles have declined, and domestic and foreign iron ore demand has remained robust. Going forward, there is a considerable chance that steel mills will receive reduced electricity allocations due to Chinese electricity production in the summer simply being unable to come close to meeting demand. This would result in a decline in steel production and lower iron ore demand. As of now, though, Chinese steel production remains very robust” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- The University of Queensland
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
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