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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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Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
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- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Planning Commission, India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
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