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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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Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
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