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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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- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
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