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Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking stagnant and could get worse in the coming days. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) was marginally down by 0.05% to 1,885 points, shedding just one point. Still, activity in the Capesize market was low, leading the Baltic Capesize Index down by 1.37% to 3,021 points. Capesizes are typically used to haul coal and iron ore into China. Surprisingly, all other shipping segments were higher yesterday, with the Panamax market leading the foray as the BPI rose by 1.66% to 1,771 points.
According to the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS), “a slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points. The Capes saw the greatest movement, sliding -6%, while the BPI fell 5%. The BSI was steady with a rise of 1.4%. However good cargo flow in the Atlantic pushed the Handysize index up 7.7% to reach 740 points. At $10,850, the Handy time charter average finished the week at its highest level since mid-June. In Russia, the government announced ambitious plans to spend nearly $600m on its grain ports, in order to increase capacity by as much as 67% over the next four years. The new investment is forecast to lift grain loading capacity to almost 42 million metric tons from 25 million tons this year. Spending would be focused on developing and adding terminals on the Baltic, Asov and Black Seas. One rail carrier estimated the improvements could increase the discount at which Russia can sell grain at international tender by $7 to $8 per ton” said BRS.
Commenting on the Capesize market it mentioned that “declines that had perhaps been expected the previous week finally appeared this week, and the BCI lost 6% to finish at 3,136 points. The 4TC fell back to $26,601. In both runs this month, rates have risen to just under $29,000 before quickly retreating. A reduction in cargo movements was notable this week however, particularly towards end week as China began its holidays. With this in mind, we are unlikely to see any major improvements in the coming week. It was a volatile week in the FFA market, but the overall trend was also down with October and Q4 contracts both losing around $1400 w-o-w. Period rates have not softened much however, and short-period was fixing at around $19,000 per day, while two 206,000 tonners (ex yard February 2012) were reported fixed for between 44-50 months at $18,000 per day less 5% commission. As expected, the BCI fell again at the start of this current week” said the shipbroker in its report.
As far as the Panamax market is concerned, “both the Atlantic and Pacific basins became tighter last week. The Indian Ocean market become stronger too with fresh cargoes released after monsoon. In the Atlantic, available open tonnage dropped significantly over the last week and the TA round voyage reached almost $15,000. On a voyage basis, USEC to Continent was in the $15.50 pmt range while USG to Continent was in the low $20s pmt with a bullish outlook. Some charterers struggled to find the right candidates for trip from US Gulf/US east Coast to Continent. Ballasters expected from the east have not yet reached the area so open vessels in the zone have dropped by 60% in 15 days. Fronthaul rates remained relatively flat in the $22,500/$22,700 range. In the Pacific, open tonnage became tighter as well and dropped by 35% in 15 days. Rates seemed to have found a floor and hold relatively well, helped by the ballasters mentioned before. The Nopac round was around $10,500. Oversupply was absorbed by fresh cargoes put into the market by Chinese players before they went on holiday, which is a good reason to say that this week should be quiet” mentioned BRS.
In a separate notice issued yesterday, Commodore Research & Consultancy commented on the fact that Chinese steel output has come under pressure as it anticipated. “The China Iron and Steel Association (CISA) recently reported that daily crude steel output averaged 1.919 million tons from September 11 to September 21. This is a moderate decrease from the 1.964mt daily output average that occurred during September 1 to September 10. On a 30-day basis, the 1.919mt daily output average would yield 57.57mt of steel while the 1.964mt daily output average would yield 58.92mt. We have been predicting that Chinese steel output would come under pressure due to a recent stagnation in steel prices and increase in steel stockpiles. Chinese steel prices have come under a moderate amount of pressure since the end of August. The average price of 3.0mm hot rolled coil is now 4,760 yuan/ton, 190 yuan (-4%) less than a month ago. Chinese steel stockpiles have increased for five straight weeks and currently stand at 14.4mt. At the end of August, stockpiles stood at 13.6mt. The stagnation in steel prices and increase in steel stockpiles has been an indication that the recent level of Chinese steel output had been exceeding demand.
Going forward, Chinese steel output is likely to come under a bit more pressure during the next few weeks. Although output has declined, it is important to recognize that Chinese steel output is still relatively high and in no way is the Chinese steel industry undergoing a major correction. Instead, steel output is only coming under a small amount of pressure, which has been necessary in order to draw down stockpiles and allow prices to find support. If Chinese crude steel output ends up totaling 57mt in October, this would still be 6.7mt (13%) more than was produced in October 2010” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
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