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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- GMR Energy Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
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