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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, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- The University of Queensland
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
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