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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, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Planning Commission, India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
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