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Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exactly where it was at the end of the previous week. The general trend was for added Capesize demand, with the relative BCI (Baltic Capesize Index) rising further to 3,597 points, or by 0.87% on the day. All other segments were down, with Panamaxes losing 1.33%.
In its weekly analysis of the dry bulk market, Paris-based shipbroker Barry Rogliano Salles (BRS) said that the market seems to be at a crossroad once more. “The indices last week remained fairly stable (except for the Panamax sector), ending the week as follows: the BDI at 2,153 points (-0.9%), the BCI at 3,566 (-0.6%), the BPI at 2,026 (-2.8%), the BSI at 1,607 (+0.8%) and the BHI at 826 points (+0.5%). Falling iron ore prices continued to prompt discussion, as Chinese steel prices also fell to a 10-month low last week in response to moderating construction demand. Recent steel prices have prompted some Chinese producers to cut output or bring forward maintenance. 62% fine CFR Tianjin finished the week at $142.6 per tonne. The cash price of ore has not traded at less than $140 per ton since September 2010” said BRS.
Reffering to the Capesize market, the shipbroker said that “despite the Coaltrans conference in Madrid, and the near one-year high achieved by Capesize rates the previous week, there was no major correction in the market. Overall the BCI came off just 0.6%, while the four time charter average only budged $324 to finish at $30,975. Regionally, Tubarao-Qingdao rates actually rose, and a mid November cargo was reported at $30 per tonne, with plenty of activity in both basins in the second half of the week. Paper rates meanwhile saw significant gains over the week, suggesting confidence for the short term is there. November and Q4 contracts recorded gains of 12.6% and 9.8% respectively w-o-w. Monday saw more positive signs, with the 4TC rising $437, compensating for the losses of the previous week” it said.
As for the Panamax market, reportedly it was strong last with ‘high’ rates seen until midweek.
“The end of the week was relatively quiet, and it was the same for the start of the new week. Both TA and Pacific RV kept improving and respectively reached $18-$18,300 and $15,600-$15,800 on Wednesday, with fronthaul rates reaching up to $26,500/day. That said, the market marked a pause with tonnage building up in the Atlantic and Pacific. Fronthaul was reported in the $25,500 region and TA was hovering in the $17,800-$18,000 area. The market now appears to be topping out. The only market which remained tight the whole week was the Indian market with very little tonnage available for WCI to China trip. We are now expecting a drop in rates as a fair number of ballasters from the East could hit the Atlantic market very soon, so a weak second half of November is predicted, with many players strongly bearish” concluded BRS, in its report.
Meanwhile, in a note from Commodore Research & Consultancy, ship owners were warned of the fact that Chinese iron ore demand will continue to come under sporadic pressure. “Only 11 vessels were chartered to ship iron ore to China last week, 17 less than the previous week and 12 less than the trailing four week average”. The reasons are that “Chinese steel prices came under sharp pressure last week, which indicates a continued decline in domestic demand. The average price of 3.0mm hot rolled coil in China is now 4,380 yuan/ton ($686), 320 yuan (-7%) less than a week ago. This marks the sixth consecutive week that Chinese steel prices have decreased. Last week’s decline was the largest week-on-week decline since October 2009. In addition to the ongoing decline in Chinese steel prices, Chinese steel stockpiles have continued to increase. Stockpiles of Chinese flat and construction steel products currently total approximately 15.1 million tons, 200,000 tons (2%) more than was
stocked a week ago and 1.3mt (9%) more than was stocked at the start of September. Going forward, Chinese steel production appears likely come under additional pressure during at least the next few weeks. Stockpiles need to be drawn down before a rebound in production can occur” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Sojitz Corporation - Japan
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
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