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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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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Planning Commission, India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- The University of Queensland
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- PTC India Limited - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
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