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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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Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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