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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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Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
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