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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 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
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