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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, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- Uttam Galva Steels Limited - India
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- Indian Oil Corporation Limited
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- IEA Clean Coal Centre - UK
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- San Jose City I Power Corp, Philippines
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- Intertek Mineral Services - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
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- Planning Commission, India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
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- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
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- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
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- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
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- Parry Sugars Refinery, India
- London Commodity Brokers - England
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- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
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- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
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- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
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- International Coal Ventures Pvt Ltd - India
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- Mercuria Energy - Indonesia
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- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
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- New Zealand Coal & Carbon
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