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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, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
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