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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, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
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