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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
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