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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, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
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