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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, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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Showing 5611 to 5615 news of total 6871 |
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- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Planning Commission, India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Trasteel International SA, Italy
- The University of Queensland
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
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