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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- The University of Queensland
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
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