We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
|
|
|
Showing 4976 to 4980 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
|
| |
| |
|
