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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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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- ASAPP Information Group - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Bhatia International Limited - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
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