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Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% to reach 1,876 points a new high for the year and definetely a multi-month high. Yesterday, all ship sectors were higher with renewed cargo demand activity pushing rates higher. Capesizes were up by 2.67% to 3,270 points, while all other shipping markets were also on a high note, albeit at a smaller rate. Panamaxes were up by 0.59% to 1,695 points, while Supramaxes were up by 0.5% to 1,408 points.
According to the latest weekly dry bulk report from shipbroker Barry Rogliano Salles, “tight conditions in the Atlantic, with prompt tonnage at a premium, pushed Cape rates up again this week to reach $26,463, the highest level for nine months. Overall the BDI rose 6% to 1,838 points, the BCI 7% to 3,185, while the Panamaxes, Supras and Handies smaller sizes saw modest gains of 3%, 1.5% and 1.9% respectively. In the coal markets, China confirmed that coal imports in 2011 were unlikely to meet the record levels of last year. According to the secretary of the China Coal Transport and Distribution Association, imports will likely reach 150m tonnes, below the 164.8m tonnes seen in 2010, due to increased domestic production and improved transportation” said the Paris-based shipbroker.
On the Capesize sector, the report mentioned that “with good cargo support, rates firmed in both basins this week, and the strong market quickly translated into higher period rates, now estimated at up to $17,000 per day for one-year period, compared to a low of $11,000 in June. Overall the BCI rose 7% w-o-w and the 4TC nearly 11% to the highest levels since 8 December 2010. Prompt rates for Tubarao-China reached $28, while there was talk of $12 for Aus-China. In the paper market, rates rose throughout the rest of the year, although first quarter 2012 remains little changed” it said.
On the Panamax front, BRS commented that “the P4TC increased by $431 with much of the impetus emanating from the Pacific where the 3A index rose by $1,643 over the week. The volume of prompt cargo out of NoPac and also Indonesia and Australia were the main factors behind this trend, and we are still seeing some reasonable volumes for September dates although the market appears a touch cooler now. The Atlantic was relatively quiet on the fixing front, with limited fresh cargoes weighing the 1A index down by $328 over the week. Front haul markets remained quiet with little fresh business to be had although owners seem to have shown some resistance to any significant softening in rates. The short period market firmed up over the week on the back of firmer Capesize markets, with fixtures reported at LME BPI equivalent levels of close to $15,000 for 4/6 months basis delivery China/redelivery worldwide”.
As far as the smaller ship types and more specifically the Supramax/Handy segments, BRS noted in its report that “over the last week, the Supramax market moved upwards, gaining 1.6% with the average of the TC routes closing the week at $14,649 per day. Owners were enjoying healthy rates in the Atlantic. USG to the Far East was fixed at around $30,000 per day dop USG, while Petcoke to Italy was done for around $26,000. The Continent market was firm thanks to a large demand for scrap cargoes, and Handymaxes were getting about $17,000 dop ARAG redelivery East Med. The market in the Black Sea was pushing up as well with good volumes of fertilizers and grain, especially Handysize stems. Further South, Supras out of West Africa were fixed at around $22,000 via east coast South America, redelivery Far East, while redelivery Continent was worth about $15,000. In the Pacific, iron ore stems have begun moving from both coasts of India, with Supras getting about $12,500. Even coal volumes from Indonesia and Richards Bay to India are picking up. The end of the monsoon and the approach of the Chinese holidays has led to a positive sentiment in the basin” concluded the shipbroker.
Meanwhile, on the SnP front BRS noted a few interesting deals re-appearing this week. “After last week’s rumours, we saw the ex. Korea Line vessel “Begonia” (180,000 dwt, built 2005 in Japan) committed to Chinese buyers for about $36.0m. This is probably the lowest price for a modern Cape since 2003 but it is important to mention some reports that the vessel may have a damaged m/e crank bearing. Meanwhile, the Japanese controlled “Suma” (150,000 dwt, built 1994 in China) was sold to Chinese buyers for $14.5m. Moreover we saw the three Supramaxes from China’s Taizhou Sanfu initially ordered by Oscar Wehr in Germany but cancelled due to late delivery now committed to Precious Shipping in Thailand for about $26.0m each. In the demolition market, levels have remained stable with India still paying top dollar at $505/LT, Bangladesh $500/LT, Pakistan $485 and China rising by $5/LT to $455/LT” said BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 25 November 20
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- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
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