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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
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