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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
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