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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Australian Coal Association
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
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