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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, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
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