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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, 27 July 11
BLACKSTONE TO INVEST INR 5,000 MILLION (APPRX. US$ 111 MILLION) IN VISA POWER
Press Release - The Blackstone Group (NYSE: BX) today announced that it will be investing INR 5,000 million (c. USD 111 million) in VISA Power ...
Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
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- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
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