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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, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
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