We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
|
|
|
Showing 5106 to 5110 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
|
| |
| |
|
