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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, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
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- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Mercuria Energy - Indonesia
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