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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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Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
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- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Australian Coal Association
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Planning Commission, India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
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