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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, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- The University of Queensland
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
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