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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, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
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