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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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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
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Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
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