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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, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- The University of Queensland
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
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