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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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Friday, 28 June 13
U.S. PRODUCED 1.52 PERCENT LESS COAL WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.40 million short tons (mmst) of ...
Thursday, 27 June 13
US COAL EXPORTS BEATS CHINESE COAL IMPORTS AS THE MOST INFLUENTIAL COAL TRADE - BIMCO
The influence of American coal exports on seaborne transportation has grown significantly over the past decade. In 2002, the US exported 20.1 millio ...
Thursday, 27 June 13
HANDY : USD 12000 FOR SPOT COAL INDO/CHINA AND AROUND USD 13000 INDO/ECI - FEARNLEYS
Handy
Atlantic rates hold well. Continent to Far East is worth more than USD 14k daily whilst USG to Far East pay 23/24k a day. On the route from B ...
Thursday, 27 June 13
DRY BULK CARRIERS DOMINATE NEWBUILDING ORDERS AS SHIP OWNERS ARE ENCOURAGED BY LATEST FREIGHT RATE RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders for dry bulk carriers were already high, compared to last year, prior to the latest rally of the Baltic Dry Index (BDI), which ha ...
Tuesday, 25 June 13
CAPESIZE MARKET TO REMAIN BULLISH SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been experiencing its long-awaited rally, with the Baltic Dry Index, the industry's benchmark rising to healthier levels fo ...
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- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Australian Coal Association
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
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