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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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Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
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- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
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