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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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Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Bhatia International Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Planning Commission, India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
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