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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, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
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