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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- The University of Queensland
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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