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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- London Commodity Brokers - England
- The University of Queensland
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
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