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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, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
Sunday, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
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- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- The University of Queensland
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
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