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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, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Australian Coal Association
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