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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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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
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