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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, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
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