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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, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
Tuesday, 06 August 13
UNLEASHING SHALE GAS POTENTIAL AS A GLOBAL ENERGY GAME CHANGER
In its 4th year running, the Annual Shale Gas Conference will bring leaders from North American shale gas operators, key Asian regulators, multi ...
Tuesday, 06 August 13
GBCE APPOINTS BENJAMIN WILEY AS NEW MANAGING DIRECTOR
COALspot.com : GB Clean Energy Ltd. (GBCE) announced today that Mr. Benjamin Wiley has been appointed as Managing Director.
Mr. Wiley has ...
Tuesday, 06 August 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS FALL 23.16 PERCENT ON WEEK TO 2.26 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 15.8 percent week on week to 2.26 million mt for ...
Monday, 05 August 13
PAPERLESS TRADING (ELECTRONIC BILLS OF LADING) - FREQUENTLY ASKED QUESTIONS ("FAQS") - UK P&I CLUB
A number of Members have contacted the Club with queries regarding the use of electronic bills of lading and any potential consequences for P&I ...
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- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
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