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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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Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
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