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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
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