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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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Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
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- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Economic Council, Georgia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
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