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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
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