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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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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
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- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- The University of Queensland
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
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