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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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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- Chamber of Mines of South Africa
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- The Treasury - Australian Government
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
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