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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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Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
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 ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
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- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
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- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Planning Commission, India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
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