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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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Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
Tuesday, 10 September 13
COAL EXPORTS AT AUSTRALIA'S NEWCASTLE PORT SLIP 30.31% ON WEEK TO 2.36 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port down 30.31 per cent week on week to 2.36 million mt f ...
Tuesday, 10 September 13
WORLDWIDE COAL CONSUMPTION RISES SHARPLY - RA DR. ERICH SCHMITZ
By: RA Dr. Erich Schmitz, Verein der Kohlenimporteure (Germany Coal Importers Association)
World hard coal market in the first half of 2013: worl ...
Monday, 09 September 13
REBOUND IN NEWBUILDING ORDERS HASN'T HURT DRY BULK MARKET PROSPECTS, BUT SHIP OWNERS SHOULD STILL BE CAUTIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Since the start of 2013 and up until the end of August, one thing has really caught the headlines in the dry bulk market, except of course, the frei ...
Sunday, 08 September 13
Q3 2014 THERMAL COAL SWAPS : STEADY DIRECTION
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery up 1.88 percent month on month. The swap was moved ...
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- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
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