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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- Dalmia Cement Bharat India
- Planning Commission, India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
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