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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, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
...
Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Parliament of New Zealand
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
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