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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, 12 June 13
INDONESIAN COAL PRICE REFERENCE SLIDES TO 2013 LOW
COALspot.com - Indonesian Coal Price Reference continues to take its lumps this month, dropping about 0.54 % and hitting a 2013 low. The Indonesian ...
Tuesday, 11 June 13
COAL: NO SIGN OF RECOVERY - GABRIELLA
COALspot.com: We attended the 19th Annual Coaltrans Asia Conference, where we found most of the speakers were not very optimistic on the outlook for ...
Tuesday, 11 June 13
NEWCASTLE PORT SHIPPED MORE COAL WEEK ENDED 11 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 3,104,509 tons of coal for the week ended 0700 hours 11 June 2013, Newcastle Port Corp. ...
Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as ...
Sunday, 09 June 13
CFR SOUTH CHINA COAL SWAP IS UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.03 percent week on week but gained 0.07 pe ...
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- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
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