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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, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Planning Commission, India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
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