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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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Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
Tuesday, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
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- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
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