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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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Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
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- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
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- The University of Queensland
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- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Economic Council, Georgia
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- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
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- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
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- Thiess Contractors Indonesia
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- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- PTC India Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
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