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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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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
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