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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, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Minerals Council of Australia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
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