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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- White Energy Company Limited
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
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