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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, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
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- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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