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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Parliament of New Zealand
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- White Energy Company Limited
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
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