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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, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Economic Council, Georgia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
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