We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
|
|
|
Showing 5036 to 5040 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
|
| |
| |
|
