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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, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
Wednesday, 20 July 11
ANTWERP RECEIVES THE CAPESIZE MG COURAGE
The deepening of the Western Scheldt has made the port of Antwerp easily accessible not only to Ultra Large Container Ships of over 10,000 TEU but a ...
Wednesday, 20 July 11
KALIMANTAN GOLD APPOINTS COMMISSIONER TO SUBSIDIARY
Kalimantan Gold Corporation Limited has announced the appointment of Dr. Bambang Setiawan as Commissioner (a senior advisor) to the Board of PT Kali ...
Wednesday, 20 July 11
CHALLENGER GETS TABANG PROJECT IUP PERMIT
COALspot.com - Challenger Deep Resources Corporation has been getting exploration permit or Izin Usaha Pertambangan (IUP) for its Tabang coal in Eas ...
Wednesday, 20 July 11
TCM COAL PROJECT IN SOUTH KALIMANTAN MOVES TO FINAL FEASIBILITY STUDY
COALspot.com - Pan Asia Corporation Ltd has executed a formal agreement with an underground mining group KOPEX to undertake a final feasibilit ...
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- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Parliament of New Zealand
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
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