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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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Thursday, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- The University of Queensland
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
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