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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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Saturday, 10 August 13
MOODY'S: OUTLOOK FOR US COAL INDUSTRY CHANGES TO STABLE FROM NEGATIVE
Moody's Investors Service has changed its outlook for the US coal industry to stable from negative, the rating agency says in a new report, "U ...
Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
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- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
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