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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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Thursday, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
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- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Australian Coal Association
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
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