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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, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam ...
Thursday, 09 May 13
THE WORLD LARGEST POWER PLANT COAL EXPORTER SHIPPED 36 MILLION TONS OF COAL IN MARCH
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 36.165* million tons of coal in March 2013.
Ac ...
Thursday, 09 May 13
DRY BULK SHIP OWNERS KEEP BUILDING NEW VESSELS ON THE BACK OF LOWER PRICES AND IMPROVED MARKET PROSPECTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have inc ...
Thursday, 09 May 13
HANDY : RBCT ROUNDS FIXED AT USD 8000 DOP ECI - FEARNRESEARCH
Handy
The atlantic market started to pick up with new orders. The USG-Feast was at USD 20k and Black sea-feast was at USD 12k. The pacific mkt rema ...
Wednesday, 08 May 13
PANAMAX VESSELS PROVE TO BE "STARS OF THE MONTH" FOR THE DRY BULK MARKET DURING APRIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the he ...
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- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- PTC India Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
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