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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
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