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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, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Planning Commission, India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
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