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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, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
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- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
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- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
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