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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, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
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- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Economic Council, Georgia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
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