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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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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
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