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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, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
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