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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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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
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