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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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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- The University of Queensland
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
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