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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, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- The University of Queensland
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
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