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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
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- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Malabar Cements Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- The University of Queensland
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
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