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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, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Videocon Industries ltd - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- White Energy Company Limited
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
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