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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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