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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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- Central Electricity Authority - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
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