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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, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
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- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
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