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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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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- The University of Queensland
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
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