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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, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- India Bulls Power Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
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