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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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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
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