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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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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
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