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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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Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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Showing 5041 to 5045 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
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