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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, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
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- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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