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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, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
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