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Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
 The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buoyant with the industry’s main benchmark, the Baltic Dry Index (BDI) rising by a more than impressive 4.14 percent, or 84 points, to 2,114 points, mainly as a result of renewed capesize cargo demand. The relative Baltic Capesize Index (BCI) jumped by 13.26 percent, with average daily earnings now standing at $21,298 a day, up from this year’s lows of under $10,000 a day, noted a few weeks ago. As a result, the capesize segment has once again returned to normal, standing above the panamax market. According to Jeffrey Landsberg, senior analyst with Commodore Research & Consultancy, spot Indian iron ore with a 63.5% iron content is now selling for approximately $135/ton FOB, an increase of $9 (7%) from just a few days ago. The rapid increase in price reflects the impact of the Kamataka iron ore ban, as well as moderate demand from China. In addition, four fixtures were reported Monday to load cargo from the US Gulf, a large amount for a single day of chartering activity. Two of the fixtures were specifically designated to export wheat to Europe. Going forward, European wheat importers are likely to purchase more wheat from the United States in order to compensate for the Russian wheat export ban which will begin on August 15”, Landsberg said.
In a separate analysis, the latest weekly report from Barry Rogliano Salles (BRS), said that capesize rates posted another double digit increase this wek. “West Australia to China rose above US$7.50, while Brazil-China was being done at index levels. In the paper market, 4Q 2010 put on around US$800 Friday to Friday to reach US$29,000/day. Overall owners were more upbeat at the end of the week and a 290 point jump in the BCI on Monday confirmed the new more positive outlook. With the time charter average finishing the week at US$18,400, Cape earnings are finally back above the Supramaxes, though not yet above the Panamaxes” the broker said.
Meanwhile, Commodore’s report mentioned that dry bulk cargo demand increased moderately last week, with ore fixtures witnessing a significant increase. A larger amount of capesize vessels were chartered to haul iron ore from Australia and Brazil partially due to the ongoing export ban in Kamataka India. 23 iron ore fixtures were reported, an increase from only 13 iron ore fixtures reported during the previous week. 17 of last week’s iron ore fixtures were for capesize vessels, an increase from 10 capesize ore fixtures reported during the previous week. The overall amount of iron ore fixtures increased dramatically, however, and with spot ore prices continuing to rise and Chinese iron ore port stockpiles down from a week ago, Chinese iron ore demand appears firm. Stockpiles of iron ore at Chinese ports are still at near record levels, though, and Chinese steel prices have not increased by a large enough amount yet to warrant great optimism.
Asian thermal coal demand remains strong but has cooled from more robust levels of demand seen earlier this summer. Grain demand remains firm but fixtures loading grain from South America have declined noticeably from a week ago. Russian wheat exports will likely be banned in the upcoming weeks. American wheat exports from the US Gulf already appear to be on the rise. Market sentiment remains relatively firm evident by the moderate amount of period deals continuing to be conducted in the market. Most of the period deals have been completed for periods between three to six months” Commodore said.
Commenting, on the state of the iron ore market after Kamataka’s ban, it said that Chinese iron ore buyers have already started to purchase a larger amount of Brazilian and Australian iron ore which is lending support to capesize freight rates. Indian iron ore is normally exported with panamax and supramax vessels (due to draft limitations that restrict capesize vessels from loading at many Indian ports). A prolonged export ban will likely reduce the amount of panamax and supramax vessels that are chartered to haul ore from India, and will likely lead to an increase in Capes chartered to haul ore from Australia and Brazil. If more ore is exported from Brazil, which is likely if the ban remains intact, capesize freight rates would receive additional support due to the longhaul nature of Brazil-China seaborne trade.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
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