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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, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
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