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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, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Deloitte Consulting - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
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