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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, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
Tuesday, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
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- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
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