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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, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
Friday, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
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- Uttam Galva Steels Limited - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- The University of Queensland
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
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