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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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Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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Showing 4991 to 4995 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Planning Commission, India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
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