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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, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
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- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Planning Commission, India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
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