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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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Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- The University of Queensland
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
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