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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, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
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