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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, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
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- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- The University of Queensland
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
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