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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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Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
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- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
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