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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 $455/LT” said BRS.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
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- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- India Bulls Power Limited - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Eastern Energy - Thailand
- Australian Coal Association
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
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