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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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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- The University of Queensland
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
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