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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, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
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