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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
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