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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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Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
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- Australian Coal Association
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
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