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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, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
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