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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, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
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