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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- VISA Power Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
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