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