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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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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
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