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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, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
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