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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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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- The University of Queensland
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
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