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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, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
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