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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, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
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- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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