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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, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
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