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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, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
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- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- The University of Queensland
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Economic Council, Georgia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
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