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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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Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
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