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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, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
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