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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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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
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