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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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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- PTC India Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Mercator Lines Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
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