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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, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
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- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
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