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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, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
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- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
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