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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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Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
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