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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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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
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