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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
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