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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, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
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