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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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Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
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