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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
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