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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, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
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