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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 ($686), 320 yuan (-7%) less than a week ago. This marks the sixth consecutive week that Chinese steel prices have decreased. Last week’s decline was the largest week-on-week decline since October 2009. In addition to the ongoing decline in Chinese steel prices, Chinese steel stockpiles have continued to increase. Stockpiles of Chinese flat and construction steel products currently total approximately 15.1 million tons, 200,000 tons (2%) more than was
stocked a week ago and 1.3mt (9%) more than was stocked at the start of September. Going forward, Chinese steel production appears likely come under additional pressure during at least the next few weeks. Stockpiles need to be drawn down before a rebound in production can occur” concluded Commodore.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- The University of Queensland
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Australian Coal Association
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
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