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