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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, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
Tuesday, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
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