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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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Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
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