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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Posco Energy - South Korea
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
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