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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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Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
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