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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 ($686), 320 yuan (-7%) less than a week ago. This marks the sixth consecutive week that Chinese steel prices have decreased. Last week’s decline was the largest week-on-week decline since October 2009. In addition to the ongoing decline in Chinese steel prices, Chinese steel stockpiles have continued to increase. Stockpiles of Chinese flat and construction steel products currently total approximately 15.1 million tons, 200,000 tons (2%) more than was
stocked a week ago and 1.3mt (9%) more than was stocked at the start of September. Going forward, Chinese steel production appears likely come under additional pressure during at least the next few weeks. Stockpiles need to be drawn down before a rebound in production can occur” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- VISA Power Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- White Energy Company Limited
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
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