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Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
 The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the last 26 years of 662 points on February 2nd. Smaller vessel categories, supramax and panamax, are moving higher due to strong fixture activity in both the Atlantic and Pacific basins with capesizes being still under serious pain from hefty overtonnage and fragile Chinese iron ore import market sentiment. Overall, all vessel indices ended in green, apart from capesizes, with supramax and handysize units experiencing the sharpest gain, near to 9% in contrast with a 6.7% rise in the panamax and 6.6% fall in the capesize segment.
The first quarter of the year is about to end with capesize average time charter earnings falling below $5,000/day, while supramax vessels are earning more than $10,000/day and panamax are trading at almost the same levels with handysizes, more than $8,000/day. The BDI seems that will break the psyclological barrier of 1,000 points in the second quarter of the year as it regains strength from the firm demand for coal, grain and minor bulk cargoes. In terms of coal demand, the prospects are overwhelming for Chinese demand as China imported approximately 20.55 million tons of coal in February, 850,000 tons (4%) more than imported in January and an amazing 204% increase from February 2011 levels.
Capesize vessels seem that will suffer for a longer period of time as Chinese inventories remain hefty, despite their fall to 99,4 million tons, 500,000 tons less than a week ago. In addition, China’s government announcement for an economic growth of less than 8% in 2012 pours more uncertainty in the already volatile iron ore market for the massive buying power of the world’s largest iron ore consumer. BHP Billiton is predicting that the growth of seaborne iron trade will amount to little more than 4.4% over the course of this decade, nearly half the 8.4% growth figure achieved between 2000 and 2010.
One positive sign is that China’s daily crude steel output stood at 1,898 million tones for the first ten days of March, surging 13% from the preceding period, according to data from the China Iron & Steel Association. Steel demand has started to pick up in the world’s top consumer during March amid a gradual recovery in construction activity, but buyers remain wary about a slowdown in economic growth, which may continue to weigh on the steel sector. “Steel demand is warming up as more construction projects resume, but it is still weaker than the corresponding period of last year,” said a steel trader in Beijing.
Fears for the negative impact of last week’s tropical cyclone on the capesize segment have gone as shipping operations at the major Australia’s Port Hedland have now resumed. However, capesize vessels lost more ground this week with average time charter earrings falling to the lowest levels for over a year. The BCI has lost 97 points on a weekly basis by standing at 1,369 points, 6.6% down from previous week’s closing with vessels trading at levels of $$4,546/day, when last year were earning more than $10,000/day. Capesize spot rates on Australia to China have dropped to $7.45 per tonne, which shows a return of about $1,500/day for 180,000 dwt tons capesize vessel.
In the panamax segment, South American grain demand remains the key driver force, with BPI posting a 6.7% rise by gaining 65 points more than previous week and vessel earnings moving to more than $8,000/day. But, panamax earnings are still far below than last year’s levels, when there were more than $16,000/day, as they are facing the same headache with capesize vessels, the pain of oversupply.
Supramax and handysize units are on the spotlight as being the star performers from March 2nd by showing continuous weekly increases. The BSI ended at 1035 points last Friday, showing a 39% rise from the beginning of March with vessels earning more than $10,000/day, 35% lower than last year’s levels. The BHSI ended at 551 points, 26% up from the beginning of March with vessels earning more than $8,000/day, 29% less than last year.
Amid the volatile Chinese iron ore import market sentiment and the negative forecasts for a slow Chinese economic growth, Australia expects to produce record tonnages of iron ore through much of the decade, nearly all of which will be used to manufacture steel in demand. Australia iron ore exports are estimated to increase by more than 50 percent by 2016/17 compared with last year. Government data release anticipates still strong demand from Chinese steel mills, the biggest buyers. Exports will rise by an annual rate of around 11 percent to reach 767 m million tonnes in 2016/17, the Bureau of Resources and Energy Economics (BREE) predicted.
Rio Tinto, the world’s second largest iron ore producer, said that it plans to boost the output from its mines in Australia western Pilbara to 283 million tonnes per year by the second half of 2013, up from the current 225 million tonnes. David Joyce, managing director of expansion projects, said that although the rate of GDP growth in China is slowing, they remain confident on the basis of the figures that they have seen for a solid growth this year. A positive development for the fate of capesize operators is that Chinese steel demand has started to pick up amid a gradual recovery in construction activity.
Although the negative sentiment that currently persists in Chinese iron ore market, with worries for a long last recession in the world’s largest consumer country, big miners are betting on a soft landing for the world’s second biggest economy. It is believed that China’s import demand would continue to grow over the next several years, albeit at a slower pace, which should be enough reason for commodity producers to continue their expansion plans. “Nobody is saying that demand growth in China for iron ore is going to go away, just that growth rates will not be as high as they were,” said Mike Young, managing director of BC Iron, which relies on sales to China for all its revenue. Furthermore, recent investigations by Raw Materials Group revealed that global iron ore demand is set to double to around 3.5 billion tones per year by 2030, with Chinese appetite for the commodity continuing to drive the market, albeit at a slower pace than during the last decade.
Source: Maria Bertzeletou, Hellenic Shipping
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Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- White Energy Company Limited
- PTC India Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
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