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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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Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Planning Commission, India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Australian Coal Association
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
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