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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, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
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