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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, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Australian Coal Association
- Planning Commission, India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
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