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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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Monday, 16 September 13
WHAT RECOVERY MEANS FOR THE CAPESIZE MARKET - COMMODORE RESEARCH
COALspot.com: The simple fact that capesize rates have been able to increase above the $9,000/mark and become much more responsive to changes in car ...
Monday, 16 September 13
CFR SOUTH CHINA COAL SWAP: STABLE TO STEADY
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 16 September 13
INDONESIAN SUB-BIT COAL SWAP STRUGGLING TO FINDS THE RIGHT PATH
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 0.75 percept month on month on Friday 13 Septe ...
Sunday, 15 September 13
CAPE FREIGHT RATES RISE ON HIGH DEMAND AND TIGHT AVAILABILITY - CAPT. REDDY
COALspot.com : The BDI, Cape and Panamax indices are continued to rise and saw a steep surge with average index in these segments up around 25 pct w ...
Friday, 13 September 13
US COAL OUTPUT SLIPS 3.34% ON-WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.20 million short tons (mmst) of ...
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- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
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- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- The University of Queensland
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
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