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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, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
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