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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 $455/LT” said BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
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