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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, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- Eastern Coal Council - USA
- The University of Queensland
- PTC India Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
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