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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- MS Steel International - UAE
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
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