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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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Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
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