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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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Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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 ...
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- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- PTC India Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- The University of Queensland
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
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