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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- MS Steel International - UAE
- VISA Power Limited - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
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