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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Australian Coal Association
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
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