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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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Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
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