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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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Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
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