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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, 08 September 13
BALTIC INDEX UP ON HIGHER CAPESIZE, PANAMAX RATES
COALspot.com : The freight market continued saw one of the biggest rally last week with Cape Size taking the lead followed by Panamax.
The BDI wa ...
Friday, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bri ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
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- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Economic Council, Georgia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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