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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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Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
Wednesday, 22 January 14
HANDY/SMAX: TALK OF RATES INDICATES A STEADY TO FIRMING TREND - INTERMODAL
Last week closed off on the red once more for the Dry Bulk market, which continues to see freight rates trying to get steady feet. Nonetheless, with ...
Wednesday, 22 January 14
EXPORT BAN ON UNPROCESSED MINERALS EFFECTIVE 12 JANUARY 2014 - THREE - YEAR REPRIEVE FOR SOME, BUT UNCERTAINTY REMAINS: PWC
COALspot.com: On 11 January 2014, only hours before a long-debated ban on the export of unprocessed minerals was to come into effect, the Government ...
Wednesday, 22 January 14
DRY SECTOR: SENTIMENT REMAINS STRONG - INTERMODAL
As we have now entered 2014 and the Chinese are soon entering their Year of the Horse (sit tight for the ride!), it is a great opportunity to see ho ...
Wednesday, 22 January 14
SGX SUCCESSFULLY LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore exchanged announced that, SGX Freight Futures were successfully launched on 20 January 2014, and the first trade ...
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- Makarim & Taira - Indonesia
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- India Bulls Power Limited - India
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- Petron Corporation, Philippines
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- Medco Energi Mining Internasional
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- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
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- Ceylon Electricity Board - Sri Lanka
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- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Eastern Coal Council - USA
- MS Steel International - UAE
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- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
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- Lanco Infratech Ltd - India
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- Global Coal Blending Company Limited - Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Singapore Mercantile Exchange
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- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
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- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
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- Bangladesh Power Developement Board
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- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
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- Georgia Ports Authority, United States
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- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
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- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
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- CIMB Investment Bank - Malaysia
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