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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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Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- The University of Queensland
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
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