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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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Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Australian Coal Association
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
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