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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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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
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