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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A lot of this fall is stemming from the fall of steel prices in China, which is pushing steel mills’ margins to near break-even levels, which in turn are causing them to limit their iron ore purchases. Yesterday, the Baltic Dry Index (BDI), the industry’s benchmark, was down by 2.63% to 1,965 points. The biggest losses were obvious in the Capesize sector, with the Baltic Capesize Index (BCI) losing 4.34% to 3,132 points. Similarly, all other shipping segments were down, with Supramaxes retreating the most (after Capesizes) to 1,531 points, down by 0.91% on the day.
According to the latest weekly report of Paris-based shipbroker Barry Rogliano Salles, there were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the losses were more constrained: the BPI dropped -4.3% to 1,939, the BSI -4% to 1,545 and the BHSI -4.8% to finish at 786. “Speculation is now rife concerning the fall in the iron ore price and whether it signifies a longer term trend in China. Ore prices experienced the biggest ever 7-day fall last week, and prices for immediate delivery of benchmark iron ore into China fell to $120/ton on Friday, down from $181 on 7 September” said the report.
It went on to mention that “historically, demand for ore has softened in China in September and October, but has recovered in the build up to Christmas as the country faces the worst winter conditions. This year the slump has lasted longer than normal, with low steel prices and credit problems discouraging buyers. However the current spot price is close to the break-even production price for Chinese domestic producers, suggesting to many that the international price will not fall much below that. Though CISA says it believes the price will fall further, other sources say there is no change to the fundamentals and buyers are withholding purchases in order to see where the market shakes out” said BRS.
Referring to the Capesize segment, the shipbroker mentioned that “the correction expected the previous week was finally apparent this week, with low levels of activity especially in the Pacific forcing rates down. Overall the 4TC dropped 9%, falling to $28,214 — the first time it has slipped below the $30,000 mark since 19 October. The main driver was an absence of Australian shippers, with the Hedland-Qingdao route seeing the most severe decline. This led to tonnage ballasting to Brazil, but here too cargo volumes were thinner. In the paper market, there was a similar pattern with November contracts losing $5,000 by Friday w-o-w. Monday saw another $1,500 wiped off the 4TC, a trend which if it continues could signal bigger losses this week” it mentioned.
Meanwhile, during the past week, the Panamax market became quieter after the recent recovery. “A clear pause in rising rates was recorded but we did not see the market dropping. The Panamax market has not said its last word however, while everyone expects a drop in rates in the near future. Transatlantic rates held up quite well in the $17,500-18,000 range or $22/pmt for USG to Continent voyage on LME, but P1A lost $700 over the same period. The number of open vessels did not build up as quickly as expected, but today’s update clearly indicates tonnage is building up now. In the Pacific, rates remained flat with high numbers seen for North Pacific voyage. P3A posted a $650 loss ending at $13,875 but some high fixtures were reported for very specific trades. Indonesia to China traded in the $9.40-$9.60 range in a downward trend and WCI to China trip lost some ground after being hot the last 3 weeks during the “postmonsoon rally”. The period market remained relatively stable in the high $14,000s per day for 4-6 months, with short period the main period traded for obvious reasons” said BRS.
Finally, commenting on the Supramax/Handy markets, the shipbroker said that “after a few weeks of a rising BSI, the trend has reversed again. The BSI lost about 4%, while the average of the TC routes lost $649 from Friday to Friday to reach an average of $16,155. The market was dropping heavily in the Pacific and the Nopac round voyage lost $1,607 to reach $12,217 by the end of the week. In the Atlantic the rates were coming off as well but at a slower rate. The US Gulf remained strong, with Supras getting fixed to the Far East at about $34,000 while the same route was fixed in the $36,000 the week before. Out of West Africa, Supras were getting about $14,000 for a trip via ECSA with redelivery in the Med. The Continent remained strong due to a lack of tonnage, and a Supra was fixed $17,500 delivery Continent via Baltic to the Red Sea with redelivery Port Said. Supra rates in the Pacific have been sliding fast. Iron ore exports from India, especially from ECI have all dried up. To add to that, Chinese demand for iron ore as well as coal has subsided and the prices for these commodities are falling fast. The short term perspective looks gloomy and owners are trying to give out their tonnage on short period, with Supras aiming for around $14,000” concluded BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
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- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Economic Council, Georgia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
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