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