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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
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