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Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic Dry Index (BDI) rising once again to 1.750 points, up by 0.57% compared to its ending on Friday. Yesterday, most ship markets were higher, with the Capesize segment once again leading the pack. The Baltic Capesize Index was up by 0.67% yesterday to 2,995 points, with rates reaching their highest in months. On a similar note, the Panamax market was up by 0.25% to 1,634 points, while the smaller Handysize ships also managed to edge higher, reaching 673 points, up by 0.45% on the day.
In its latest weekly dry bulk report, shipbroker Barry Rogliano Salles (BRS) said that the very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has so far trickled down to the other sizes. “The BDI gained almost 13%, while the BCI continued its remarkable performance climbing to 2,975 points, equivalent to a 27% gain w-o-w. The BPI and BSI lost a marginal 1.2% and 0.5%, while the BHSI was up by 0.5% to 670 points. Underpinning the increase in Cape rates, China reported record levels of import stockpiles Friday, at 95.59m tonnes. Imports originating from Brazil fell slightly against a week ago, but both Australia and India showed increases, with Indian imports rising 3.7% w-o-w” said the Paris-based shipbroker.
Commenting on the Capesize boom, it said that it was “another exceptionally strong week for the Capesize market, taking the BCI up to 2,975 points and the 4TC to $23,899, a rise of 43% and the highest levels seen since December 2010. A surge of incoming cargos was the reason, helped by firming steel demand in Asia, in particular China and Japan. Although gains were apparent across the board, Aus-China and the Atlantic slightly outperformed Braz-China. The newfound optimism, at least for the next month or two, resulted in more period enquiry. A one -year period deal was reported for a 2010- built 176,000 tonner at $14,000 with delivery China mid September. Meanwhile a 175,000 tonner was reported booked in the Pacific for 5-7 months at $19,000. October FFA prices were trading Friday at $19,255, compared to just $14,325 a week ago” said the report.
On the Panamax front, “there was a marginal drop of -$153 on the 4TC Panamax w-o-w as the Atlantic softened by -$861, however this was balanced mainly by the Pacific basin’s increase of $485 w-o-w. This overall drop had little effect on paper which posted gains across the curve for the week, mainly driven by the dramatic increase in Cape paper prices.
The increased activity and gains displayed on the Cape market did not filter into the smaller sizes in any significant way. In the Atlantic there was limited fresh enquiry whilst growing open tonnage gave impetus to a softening of rates throughout the week. The Pacific on the other hand did realise gains over the week mainly on the back of spot fixing for Indonesia and Australia cargoes, which extended through to increased short period business being concluded also. The short period market for Panamax LME delivery North China firmed up a bit during the week from $13,800 to $14,500 end of the week reflecting a more positive sentiment for the coming months” said BRS.
As far as the Supramax/Handy markets are concerned, there wasn’t much excitement going on in the market this past week. “We hope/expect that the activity will start picking up now that summer is over and everyone has returned from vacation. For Supras, the Baltic Index lost 7 points to finish at 1,379, whereas the TC average decreased by $74 to finish at $14,489. Modern Supras were fixed from the USG to the Far East in the region of the high $20,000s, and in the mid $20,000s to the Med. From the Continent, modern Supras were fixed to the Med somewhere in the mid/high $10,000s. For the smaller sizes, the market remained pretty much steady last week for Handies, with the Baltic losing 1 point and finishing at 670. The TC average for Handies increased by $8 to end the week at $9,945. From the USG, Handies were fixed to the Med in the mid $10,000s and in the low/mid $10,000s for a trip ex ECSA to the Med/Black Sea area. From the Cont a trip is a touch under $10,000 for NCSA des t inat ion. In the East, Supras were fixed around $13,500 for dop China via Indonesia redel Far East. Supras open China were fixed around $8,500 for trips via Indonesia to East Coast India. The Aussie round was fixed a t o u c h b e l o w $ 1 0 , 0 0 0 . On period, modern Supras were taken in the Far East for 4/6 months around $15,000 with redelivery worldwide” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
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