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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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- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
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