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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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Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- PTC India Limited - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
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