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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, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Australian Coal Association
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
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