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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, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
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- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
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