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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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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Bhatia International Limited - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- The University of Queensland
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
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