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Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic Dry Index (BDI) rising once again to 1.750 points, up by 0.57% compared to its ending on Friday. Yesterday, most ship markets were higher, with the Capesize segment once again leading the pack. The Baltic Capesize Index was up by 0.67% yesterday to 2,995 points, with rates reaching their highest in months. On a similar note, the Panamax market was up by 0.25% to 1,634 points, while the smaller Handysize ships also managed to edge higher, reaching 673 points, up by 0.45% on the day.
In its latest weekly dry bulk report, shipbroker Barry Rogliano Salles (BRS) said that 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 so far trickled down to the other sizes. “The BDI gained almost 13%, while the BCI continued its remarkable performance climbing to 2,975 points, equivalent to a 27% gain w-o-w. The BPI and BSI lost a marginal 1.2% and 0.5%, while the BHSI was up by 0.5% to 670 points. Underpinning the increase in Cape rates, China reported record levels of import stockpiles Friday, at 95.59m tonnes. Imports originating from Brazil fell slightly against a week ago, but both Australia and India showed increases, with Indian imports rising 3.7% w-o-w” said the Paris-based shipbroker.
Commenting on the Capesize boom, it said that it was “another exceptionally strong week for the Capesize market, taking the BCI up to 2,975 points and the 4TC to $23,899, a rise of 43% and the highest levels seen since December 2010. A surge of incoming cargos was the reason, helped by firming steel demand in Asia, in particular China and Japan. Although gains were apparent across the board, Aus-China and the Atlantic slightly outperformed Braz-China. The newfound optimism, at least for the next month or two, resulted in more period enquiry. A one -year period deal was reported for a 2010- built 176,000 tonner at $14,000 with delivery China mid September. Meanwhile a 175,000 tonner was reported booked in the Pacific for 5-7 months at $19,000. October FFA prices were trading Friday at $19,255, compared to just $14,325 a week ago” said the report.
On the Panamax front, “there was a marginal drop of -$153 on the 4TC Panamax w-o-w as the Atlantic softened by -$861, however this was balanced mainly by the Pacific basin’s increase of $485 w-o-w. This overall drop had little effect on paper which posted gains across the curve for the week, mainly driven by the dramatic increase in Cape paper prices.
The increased activity and gains displayed on the Cape market did not filter into the smaller sizes in any significant way. In the Atlantic there was limited fresh enquiry whilst growing open tonnage gave impetus to a softening of rates throughout the week. The Pacific on the other hand did realise gains over the week mainly on the back of spot fixing for Indonesia and Australia cargoes, which extended through to increased short period business being concluded also. The short period market for Panamax LME delivery North China firmed up a bit during the week from $13,800 to $14,500 end of the week reflecting a more positive sentiment for the coming months” said BRS.
As far as the Supramax/Handy markets are concerned, there wasn’t much excitement going on in the market this past week. “We hope/expect that the activity will start picking up now that summer is over and everyone has returned from vacation. For Supras, the Baltic Index lost 7 points to finish at 1,379, whereas the TC average decreased by $74 to finish at $14,489. Modern Supras were fixed from the USG to the Far East in the region of the high $20,000s, and in the mid $20,000s to the Med. From the Continent, modern Supras were fixed to the Med somewhere in the mid/high $10,000s. For the smaller sizes, the market remained pretty much steady last week for Handies, with the Baltic losing 1 point and finishing at 670. The TC average for Handies increased by $8 to end the week at $9,945. From the USG, Handies were fixed to the Med in the mid $10,000s and in the low/mid $10,000s for a trip ex ECSA to the Med/Black Sea area. From the Cont a trip is a touch under $10,000 for NCSA des t inat ion. In the East, Supras were fixed around $13,500 for dop China via Indonesia redel Far East. Supras open China were fixed around $8,500 for trips via Indonesia to East Coast India. The Aussie round was fixed a t o u c h b e l o w $ 1 0 , 0 0 0 . On period, modern Supras were taken in the Far East for 4/6 months around $15,000 with redelivery worldwide” concluded the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
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 ...
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- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
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