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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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Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
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