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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, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
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