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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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Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- The University of Queensland
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
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