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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, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
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- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
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