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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, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Parliament of New Zealand
- The University of Queensland
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
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