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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, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
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