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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, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
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- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Planning Commission, India
- White Energy Company Limited
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
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