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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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Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
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