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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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- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
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