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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, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- London Commodity Brokers - England
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
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