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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
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