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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
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