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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, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first qua ...
Thursday, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
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- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- PTC India Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
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