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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, 07 July 13
COAL PRICES REMAIN UNDER PRESSURE
COALspot.com – Coal swaps for the year 2014 indicate that, the pressure on coal prices will continue at least until next year. Ave ...
Friday, 05 July 13
THE DRY BULK MARKET IS GOING FROM STRENGTH TO STRENGTH - INTERMODAL
The Capesize sector has been one that has gone through a wild rollercoaster of emotions this past decade, ranging from the exuberance witnessed duri ...
Thursday, 04 July 13
CHALLENGER SIGNS FORMAL EXCLUSIVE MINING AND MARKETING AGREEMENT FOR ABBR PROJECT IN CENTRAL KALIMANTAN
COALspot.com - Challenger Deep Resources Corp., through its subsidiary PT Bestindo Energy has signed the formal exclusive Mining and Marketing agree ...
Thursday, 04 July 13
ASX LISTED QBL TO ACQUIRE INTERESTS IN MOZAMBIQUE COAL EXPLORATION LICENSES
- QBL to acquire interests in two Mozambique exploration licences prospective for coal
- Licenses located in the highly prospective Zambezi basin, ...
Thursday, 04 July 13
HANDY : INDO/CHINA, CHARTERERS RATING AROUND US$ 10,000 - FEARNLEYS AS
Handy
The Feast market firmed slightly up as mid-July cargos entered the market, but charterers seems not in hurry to cover them and looking for ch ...
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- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- The University of Queensland
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
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