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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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Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
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- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
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