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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, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
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- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
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