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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, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
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- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
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