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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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Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
Saturday, 17 September 11
GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE FOR US$ 1.26 BILLION
COALspot.com - GVK group, India’s leading infrastructure developer,confirmed arrangements for the acquisition of a strategic part of large, hi ...
Saturday, 17 September 11
INDIA'S GVK ACQUIRES HANCOCK COAL AND INFRASTRUCTURE PROJECTS IN AUSTRALIA
COALspot.com - GVK group, India’s leading infrastructure developer, today confirmed arrangements for the acquisition of a strategic part of la ...
Friday, 16 September 11
DELTA DUNIA MAKMUR REMOVED 30.9 MILLION BCM OVERBURDEN IN AUGUST 2011
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 30.9 million bcm (+13.2% YoY) overburden in August 2011 while coal production was at 2.9 ...
Thursday, 15 September 11
RUSSIAN COAL EXPORTS UP 10.9% IN JAN-AUG TO 71.50 MILLION TONS - PORT NEWS / HELLENIC SHIPPING
Port News reported that, Coal exports from Russia in January-August 2011 grew by 10.9% compared with the same period last year, to 71.50 million ton ...
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- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
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