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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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Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
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- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
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